North Lanarkshire house prices dropped slightly in April

House prices dropped slightly, by 0.4%, in North Lanarkshire in April, new figures show.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices dropped slightly, by 0.4%, in North Lanarkshire in April, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2.9% over the last year.

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The average North Lanarkshire house price in April was £133,581, Land Registry figures show – a 0.4% decrease on March.

Over the month, the picture was different to that across Scotland, where prices increased 1.3%, and North Lanarkshire was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in North Lanarkshire rose by £3,800 – putting the area 16th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in East Lothian, where property prices increased on average by 17.2%, to £334,000. At the other end of the scale, properties in Na h-Eileanan Siar lost 7.4% of their value, giving an average price of £148,000.

First steps on the property ladder

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First-time buyers in North Lanarkshire spent an average of £109,200 on their property – £2,700 more than a year ago, and £22,700 more than in April 2018.

By comparison, former owner-occupiers paid £164,900 on average in April – 51.1% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in North Lanarkshire in April – they dropped 0.7% in price, to £108,855 on average. But over the last year, prices rose by 2.3%.

Among other types of property:

  • Detached: down 0.5% monthly; up 5.1% annually; £277,871 average
  • Semi-detached: down 0.2% monthly; up 3.9% annually; £149,116 average
  • Flats: down 0.2% monthly; up 1.2% annually; £75,710 average

How do property prices in North Lanarkshire compare?

Buyers paid 28.6% less than the average price in Scotland (£187,000) in April for a property in North Lanarkshire. Across Scotland, property prices are low compared to those across the UK, where the average cost £286,000.

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The most expensive properties in Scotland were in East Lothian – £334,000 on average, and 2.5 times the price as in North Lanarkshire. East Lothian properties cost 2.8 times the price as homes in North Ayrshire (£118,000 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 April

  • North Lanarkshire: £133,581
  • Scotland:£187,150
  • UK: £286,489

Annual growth to April

  • North Lanarkshire: +2.9%
  • Scotland: +2%
  • UK: +3.5%

Highest and lowest annual growth in Scotland

  • East Lothian: +17.2%
  • Na h-Eileanan Siar: -7.4%