North Lanarkshire house prices increased more than Scotland average in August

House prices increased by 1.4% – more than the average for Scotland – in North Lanarkshire in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.3% over the last year.

The average North Lanarkshire house price in August was £139,569, Land Registry figures show – a 1.4% increase on July.

Over the month, the picture was similar to that across Scotland, where prices increased 1.2%, and North Lanarkshire was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in North Lanarkshire rose by £1,900 – putting the area eighth among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in East Lothian, where property prices increased on average by 15.4%, to £337,000. At the other end of the scale, properties in the Shetland Islands lost 7.6% of their value, giving an average price of £182,000.

First steps on the property ladder

First-time buyers in North Lanarkshire spent an average of £114,160 on their property – £960 more than a year ago, and £25,180 more than in August 2018.

By comparison, former owner-occupiers paid £172,160 on average in August – 50.8% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in North Lanarkshire in August – they increased 1.8%, to £287,947 on average. Over the last year, prices rose by 3.7%.

Among other types of property:

How do property prices in North Lanarkshire compare?

Buyers paid 28.1% less than the average price in Scotland (£194,000) in August for a property in North Lanarkshire. Across Scotland, property prices are low compared to those across the UK, where the average cost is £291,000.

The most expensive properties in Scotland were in East Lothian – £337,000 on average, and 2.4 times the price as in North Lanarkshire. East Lothian properties cost 2.7 times the price as homes in East Ayrshire (£124,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

Factfile

Average property price in August

• North Lanarkshire: £139,569
• Scotland:£194,156
• UK: £291,044

Annual growth to August

• North Lanarkshire: +1.3%
• Scotland: +1.1%
• UK: +0.2%

Highest and lowest annual growth in Scotland

• East Lothian: +15.4%
• The Shetland Islands: -7.6%