East Renfrewshire house prices increased slightly in February

House prices increased slightly, by 0.6%, in East Renfrewshire in February, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.8% annual growth.

The average East Renfrewshire house price in February was £274,223, Land Registry figures show – a 0.6% increase on January.

Over the month, the picture was better than that across Scotland, where prices decreased 1.7%, and East Renfrewshire outperformed the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in East Renfrewshire rose by £24,000 – putting the area 21st among Scotland’s 32 local authorities with price data for annual growth.

The best annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 22.7%, to £156,000. At the other end of the scale, properties in the Shetland Islands lost 1.6% of their value, giving an average price of £173,000.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in East Renfrewshire in February – they increased 0.7%, to £271,333 on average. Over the last year, prices rose by 10.2%.

Among other types of property:

Detached: up 0.7% monthly; up 13.9% annually; £498,073 averageTerraced: up 0.5% monthly; up 8.4% annually; £205,811 averageFlats: up 0.4% monthly; up 4.9% annually; £140,156 average

First steps on the property ladder

First-time buyers in East Renfrewshire spent an average of £200,000 on their property – £15,000 more than a year ago, and £42,000 more than in February 2017.

By comparison, former owner-occupiers paid £321,000 on average in February – 60.3% more than first-time buyers.

How do property prices in East Renfrewshire compare?

Buyers paid 51.7% more than the average price in Scotland (£181,000) in February for a property in East Renfrewshire. Across Scotland, property prices are high compared to those across the UK, where the average cost £277,000.

The most expensive properties in Scotland were in Edinburgh – £315,000 on average, and 1.1 times as much as more than in East Renfrewshire. Edinburgh properties cost 2.6 times as much as homes in North Ayrshire (£120,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in February

East Renfrewshire: £274,223Scotland:£180,822UK: £276,755

Annual growth to February

East Renfrewshire: +9.8%Scotland: +11.7%UK: +10.9%

Best and worst annual growth in Scotland

Na h-Eileanan Siar: +22.7%The Shetland Islands: -1.6%