South Lanarkshire house prices increased slightly in January

House prices increased slightly, by 0.5%, in South Lanarkshire in January, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.5% annual growth.

The average South Lanarkshire house price in January was £158,369, Land Registry figures show – a 0.5% increase on December.

Over the month, the picture was less good than that across Scotland, where prices increased 2.2%, but South Lanarkshire outperformed the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in South Lanarkshire rose by £19,000 – putting the area eighth among Scotland’s 32 local authorities with price data for annual growth.

The best annual growth in the region was in the Orkney Islands, where property prices increased on average by 19.3%, to £191,000. At the other end of the scale, properties in Aberdeen gained just 0.4% in value, giving an average price of £145,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in South Lanarkshire in January – they increased 0.6%, to £90,216 on average. Over the last year, prices rose by 9.2%.

Among other types of property:

Detached: up 0.5% monthly; up 17.7% annually; £314,425 averageSemi-detached: up 0.5% monthly; up 14.9% annually; £178,999 averageTerraced: up 0.3% monthly; up 12.8% annually; £127,510 average

First steps on the property ladder

First-time buyers in South Lanarkshire spent an average of £123,000 on their property – £14,000 more than a year ago, and £29,000 more than in January 2017.

By comparison, former owner-occupiers paid £194,000 on average in January – 58.3% more than first-time buyers.

How do property prices in South Lanarkshire compare?

Buyers paid 13.4% less than the average price in Scotland (£183,000) in January for a property in South Lanarkshire. Across Scotland, property prices are lower than those across the UK, where the average cost £274,000.

The most expensive properties in Scotland were in Edinburgh – £310,000 on average, and twice as much as more than in South Lanarkshire. Edinburgh properties cost 2.5 times as much as homes in East Ayrshire (£122,000 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 January

South Lanarkshire: £158,369Scotland:£182,786UK: £273,762

Annual growth to January

South Lanarkshire: +13.5%Scotland: +10.8%UK: +9.6%

Best and worst annual growth in Scotland

The Orkney Islands: +19.3%Aberdeen: +0.4%