House Price Growth Slows

Monthly house prices have started to slow down after four months of housing price falls, pointing towards a market correction to pre-pandemic levels. This, along with falling mortgage rates, is good news for first-time buyers.

The figures released by Halifax in February show that the average house price in January was £281,684, down a modest 0.01pc from £281,713 in the previous month. This follows falls in November and December 2022 at 2.4% and 1.3%, respectively.

According to Halifax analysts, house prices have slowed, and a further fall is expected this year. The market peaked in August last year, and prices are now 4.2% lower than this. As borrowing costs remain high compared to recent years, it’s expected to contribute to a further slowdown in house prices.

The sharpest house prices were seen in East Midlands, with a fall of 2.9%, falling from £241,850 in December to £234,946 in January this year.

In London, house prices fell 2% to an average of £530,396 in January. And this region has the lowest growth in the UK.

House prices Scotland

According to the latest report from Chartered Surveyor Fraser Walker Steel, in December 2022, house prices went up by 7% to an average of

£225,520. Figures show that house price rises are easing off with prices last month lifting by just £63 following a rise of £1,100 in November last year.

Regionally, house prices rose in all but two local authorities last year, with East Renfrewshire showing the highest growth at 17.7% to an average of £325,332. In Edinburgh, house prices went up by over 10%, whereas Aberdeen saw a fall of 5.4%.

Since the start of the pandemic in 2020 when the average house price stood at £183,833, there has been a 22.7% increase equating to £41,700.

Homes for sale right now with Clyde Property

Oronsay House Oak Road, Birnam, Dunkeld, PH8 0BL

Offers Over £540,000

Oronsay House is situated in the sought-after Perthshire village of Birnam and forms half of a traditional Victorian mansion house. Originally built in 1878 this beautiful historic home has been sympathetically refurbished throughout over time whilst maintaining many original features including ornate cornicing, sash and case windows, working window shutters and original fire places. The property is grade ‘C’ Listed.

See more: Oak Road, Birnam, Dunkeld, PH8 0BL – Clyde Property Ltd

11 Coulters Crescent, Carmunnock, Glasgow, G76 9AY

Offers Over £455,000

Sat in this popular Stewart Milne development on the outskirts of the always sought after leafy Carmunnock village, this home offers excellent accommodation over two main levels. On approaching the property, you are met with manicured gardens, large driveway and integral double garage offering ample off-street parking.

Craigrossie Boat Brae, Blairgowrie, Perthshire, PH10 7AA

Offers Over £425,000

Set on the banks of the River Ericht, Clyde Property are delighted to offer to the market this stunning detached four/five bedroom Victorian villa located within the ever-popular residential town of Blairgowrie. The property occupies a lovely central position within its own expansive and beautifully maintained mature garden grounds. (approx. 1/3 acre). A splendid wooded backdrop surrounds the garden grounds offering a wonderfully rare private and tranquil setting.

6 Corrie Grove, Netherlee, Glasgow, G44 3PP

Offers Over £399,000

A charming sandstone mid-terrace villa on a quiet, leafy no-through road.

114 Bannockburn Road, Stirling, Stirling, FK7 0DQ

Offers Over £299,950

Presented to market in excellent condition throughout is this professionally extended three-bedroom detached family villa with large private gardens within a sought-after district of Stirling.