Latest average house prices for the Scottish Borders

AVERAGE house prices in the Scottish Borders dropped slightly in February, new Land Registry figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 11.8% annual growth.

The average price in February was £193,133, a 0.1% decrease on January.

Over the last year, the average sale price of property in the Scottish Borders rose by £20,000 – putting the area 17th among Scotland’s 32 local authorities with price data for annual growth.

Owners of terraced houses fared worst in the Scottish Borders in February – they dropped 0.2% in price, to £163,914 on average. But over the last year, prices rose by 11.7%.

Among other types of property: Detached: up 0.1% monthly; up 14.2% annually; £333,511 average, Semi-detached: down 0.2% monthly; up 12.7% annually; £199,159 average and flats: down 0.2% monthly; up 9% annually; £105,709 average

First-time buyers in the Scottish Borders spent an average of £150,000 on their property – £15,000 more than a year ago, and £43,000 more than in February 2017.

By comparison, former owner-occupiers paid £228,000 on average in February – 51.9% more than first-time buyers.

Buyers paid 6.8% more than the average price in Scotland (£181,000) in February for a property in the Scottish Borders. Across Scotland, property prices are higher than those across the UK, where the average cost £277,000.

The most expensive properties in Scotland were in Edinburgh – £315,000 on average, and 1.6 times as much as more than in the Scottish Borders. Edinburgh properties cost 2.6 times as much as homes in North Ayrshire (£120,000 average), at the other end of the scale.

Border Telegraph | News