Paisley named in Scotland’s top ten towns with the highest growth in average house price.
The latest data from the Bank of Scotland shows the average house price in Paisley rose an astonishing 11.8 per cent in the last year.
Figures show the average house price in 2020 was £138,036 rising by over £16,000 to £154,363 in 2021.
Graham Blair, Mortgages director, Bank of Scotland, said: “Scottish house prices have enjoyed another bumper year, with growth outperforming the UK average and properties in almost every town now worth more than 12 months ago.
“The feedback we’re getting from customers matches what we see in the data. “Prolonged working from home has influenced where people want to live and the type of property they want to own. So while our major cities continue to be attractive, with commuting now less of a priority, areas that offer more space and better affordability have experienced increasing demand from buyers.”
Don't miss the latest headlines from around Renfrewshire. Sign up to our newsletters here.
On average, house prices across Scotland rose by 8.8 per cent over the last year, more than the UK average of 6.2 per cent.
The average Scottish home now costs £207,778, an increase of £16,761 on 2020’s figure of £191,017.
Scotland’s house price winner, Motherwell, not only witnessed the highest percentage increase, but also the largest increase in cash terms at £26,103, rising from £151,105 to £177,118.
The town was one of two in Scotland to be amongst the UK’s 20 biggest house price increases.
With Motherwell ranking seventh in the UK overall, the other entrant was Hamilton at number 20.
The South Lanarkshire town’s average house price rose by 13.7 per cent in the last 12 months, with the typical home now costing £159,176, an increase of £19,225.
Overall, it has been a positive year for homeowners in Scotland hoping to see the value of their property rising, with more areas seeing higher rates of growth and fewer seeing falls.
The most expensive place to buy in Scotland remains Edinburgh. The nation’s capital now has an average house price of £293,406, up £19,160 (+7.0 per cent) on last year.
Download the FREE Renfrewshire Live app now for all the latest news, features and sport : smarturl.it/RenfrewLiveSocial
