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Daily Record
Daily Record
National
Fraser Clarke

Spike in house prices across West Dunbartonshire in last 12 months

House prices in West Dunbartonshire have increased by around six percent in the past year, according to new figures.

The average home in the region cost £115,645 in March – about £6,558 higher than in March 2020.

The increase is less than the Scottish average, which saw house prices rise by 10.6 percent over the year.

According to the Office for National Statistics (ONS), the average home in Scotland is worth £167,000.

Neighbouring local authorities saw higher increases with Argyll and Bute recording a 13.6 percent hike and East Dunbartonshire seeing the average house price rise by 9.2 percent.

The UK growth is at its highest rate since August 2007.

Early 2020 saw the housing market grind to a halt - as the first lockdown starting in late March closed estate agents and banned viewings.

With reopenings, the UK’s average house price growth accelerated rapidly.

The ONS said the pandemic may have caused house buyers to reassess their housing preferences.

The average price of detached properties increased by 11.7 percent in the year to March 2021. In comparison, flats and maisonettes rose by five percent over the same period.

Changes in the tax paid on housing transactions may have allowed sellers to request higher prices as the buyers’ overall costs are reduced.

In July last year, the Chancellor announced a suspension of the tax paid on property purchases with immediate effect in England and Northern Ireland, with similar policies announced in Scotland and Wales later in the month.

The tax holiday for Scotland ended on March 31.

For more local news, click here

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