Buying a house in 2017

In the first quarter of 2017 we have seen as continuation of the general trends of last year where a shortage of properties available for sale has created a sellers market. As a result of this, across Scotland as a whole the average selling price of a property is £138,821, representing a 3.1% year-on-year increase. Property prices in affluent areas in Glasgow’s outskirts, East Renfrewshire and East Dunbartonshire, are set to rise by almost a quarter (23% and 22% respectively) over the next five years and across east central Scotland and Edinburgh the average property price is now £217,455, an increase of 5.7% from last year. Not only are house prices continuing to rise, selling times are continuing to decrease meaning that properties are remaining on the market for increasingly shorter windows of time.