North Lanarkshire house prices increased more than average in June

House prices increased by 3.7% – more than the average for Scotland – in North Lanarkshire in June, new figures show.

File photo dated 14/10/14 of sold and for sale signs. House prices across the UK are expected to increase by 4 percent this year, according to a property group's forecasts. Issue date: Tuesday March 9, 2021.

House prices increased by 3.7% – more than the average for Scotland – in North Lanarkshire in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.6% annual growth.

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The average North Lanarkshire house price in June was £124,936.9677, Land Registry figures show – a 3.7% increase on May.

Over the month, the picture was better than that across Scotland, where prices increased 2.4095525%, but North Lanarkshire underperformed compared to the 4.4989563% rise for the UK as a whole.

Over the last year, the average sale price of property in North Lanarkshire rose by £16,000 – putting the area ninth among Scotland’s 32 local authorities for annual growth.

The best annual growth in the region was in the Shetland Islands, where property prices increased on average by 51.5%, to £183,000. At the other end of the scale, properties in Na h-Eileanan Siar lost 5.5% of their value, giving an average price of £124,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in North Lanarkshire in June – they increased 4.2%, to £252,079.3795 on average. Over the last year, prices rose by 16.5%.

Among other types of property:

Semi-detached: up 3.7% monthly; up 15.1% annually; £137,760.3212 averageTerraced: up 3.6% monthly; up 14.9% annually; £103,143.8087 averageFlats: up 3.2% monthly; up 11.9% annually; £72,536.44502 average

First steps on the property ladder

First-time buyers in North Lanarkshire spent an average of £103,000 on their property – £13,000 more than a year ago, and £19,000 more than in June 2016.

By comparison, former owner-occupiers paid £153,000 on average in June – 49.1% more than first-time buyers.

How do property prices in North Lanarkshire compare?

Buyers paid 28.2% less than the average price in Scotland (£174,000) in June for a property in North Lanarkshire. Across Scotland, property prices are low compared to those across the UK, where the average cost £266,000.

The most expensive properties in Scotland were in Edinburgh – £303,000 on average, and 2.4 times as much as in North Lanarkshire. Edinburgh properties cost 2.9 times as much as homes in East Ayrshire (£104,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Factfile

Average property price in June

North Lanarkshire: £124,936.9677Scotland:£173,960.9496UK: £265,668.1787

Annual growth to June

North Lanarkshire: +14.6%Scotland: +12%UK: +13.2%

Best and worst annual growth in Scotland

The Shetland Islands: +51.5%Na h-Eileanan Siar: -5.5%