South Lanarkshire house prices dropped slightly in April

House prices dropped slightly, by 0.1%, in South 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 1.9% over the last year.

The average South Lanarkshire house price in April was £158,322, Land Registry figures show – a 0.1% decrease on March.

Over the month, the picture was different to that across Scotland, where prices increased 1.3%, and South 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 South Lanarkshire rose by £3,000 – putting the area 18th 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

First-time buyers in South Lanarkshire spent an average of £122,600 on their property – £1,600 more than a year ago, and £25,500 more than in April 2018.

By comparison, former owner-occupiers paid £194,900 on average in April – 59% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in South Lanarkshire in April – they dropped 0.4% in price, to £127,340 on average. But over the last year, prices rose by 1.1%.

Among other types of property:

• Detached: down 0.1% monthly; up 4.1% annually; £317,835 average
• Semi-detached: up 0.1% monthly; up 3.1% annually; £181,193 average
• Flats: up 0% monthly; up 0.2% annually; £88,745 average

How do property prices in South Lanarkshire compare?

Buyers paid 15.4% less than the average price in Scotland (£187,000) in April for a property in South Lanarkshire. Across Scotland, property prices are low compared to those across the UK, where the average cost £286,000.

The most expensive properties in Scotland were in East Lothian – £334,000 on average, and 2.1 times the price as in South 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

• South Lanarkshire: £158,322
• Scotland:£187,150
• UK: £286,489

Annual growth to April

• South Lanarkshire: +1.9%
• Scotland: +2%
• UK: +3.5%

Highest and lowest annual growth in Scotland

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