East Dunbartonshire property prices on the up

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House prices in East Dunbartonshire leapt by 3.4 per cent in May, contributing to a 5.5 per cent rise over the last 12 months.

The latest data from the Office of National Statistics shows that the average property in the area sold for £218,881 – slightly under the UK average of £229,431.

Across Scotland, property prices have risen by 2.8 per cent in the last year, to £152,801. The region outperformed the UK as a whole, which saw the average value increase by 1.2 per cent.

The data comes from the House Price Index, which the ONS compiles using house sale information from the Land Registry, and the equivalent bodies in Scotland and Northern Ireland.

The average homeowner in East Dunbartonshire will have seen their property jump in value by around £41,000 in the last five years.

The figures also showed that buyers who made their first step onto the property ladder here in May spent an average of £163,757 – around £31,000 more than it would have cost them five years ago.

Residential research analyst at estate agent Savills, Lawrence Bowles, said: “The average UK house price rose by 1.2 per cent in the year to May 2019, down from 1.5 per cent in the year to April.”

Between April last year and March this year, the most recent 12 months for which sales volume data is available, 1,851 homes were sold in East Dunbartonshire, 5.6 per cent fewer than in the previous year.

The highest house prices in the country in May were found in London’s Kensington and Chelsea, where properties sold for an average of £1.25m.

This was 15 times the cost of a home in Burnley, where the average property cost just £86,000.