Your Move Scottish HPI records rise

Your Move's September Scottish house price index shows a bounce back in the market north of the border.

After an uncertain year, Scottish house prices have gone from a annual growth rate of just 0.6% in August, to 1.4% in September. 

The average Scottish property rose by £850 over the course of September to £167,505.

Your Move's managing director in Scotland, Christine Campbell reflected on the market:

“House prices have taken off after a turbulent summer. Annually, house prices have increased by 1.4% (£2,282) compared to September last year, more than double August’s annual growth rate (0.6%), as momentum builds in Scotland’s property market again.

Usually there is a decline in house purchase activity between August and September, as a lagged effect of the summer holidays. However, this month’s figures go against this trend. Despite other headwinds, this could be down to Scotland’s rising employment rate, increasing by 3,000 in the three months to September to 2,614,000 according to the ONS. With interest rates unlikely to change until 2017, low borrowing costs and near zero inflation should also help to pull up prices in the future."

Take advantage of our discounted landlord insurance rates