North Lanarkshire house prices increased in June

House prices increased by 1.3% in North Lanarkshire in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.5% over the last year.

The average North Lanarkshire house price in June was £137,869, Land Registry figures show – a 1.3% increase on May.

Over the month, the picture was different to that across Scotland, where prices decreased 0.4%, and North Lanarkshire was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in North Lanarkshire rose by £3,400 – 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 16%, to £339,000. At the other end of the scale, properties in the Orkney Islands lost 15.5% of their value, giving an average price of £193,000.

First steps on the property ladder

First-time buyers in North Lanarkshire spent an average of £112,800 on their property – £2,500 more than a year ago, and £23,500 more than in June 2018.

By comparison, former owner-occupiers paid £169,900 on average in June – 50.6% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in North Lanarkshire in June – they increased 1.7%, to £113,018 on average. Over the last year, prices rose by 1.9%.

Among other types of property:

• Detached: up 0.9% monthly; up 3.7% annually; £283,456 average
• Semi-detached: up 1.3% monthly; up 3.4% annually; £153,636 average
• Flats: up 1.1% monthly; up 1.4% annually; £78,426 average

How do property prices in North Lanarkshire compare?

Buyers paid 27.2% less than the average price in Scotland (£189,000) in June for a property in North Lanarkshire. Across Scotland, property prices are low compared to those across the UK, where the average cost is £288,000.

The most expensive properties in Scotland were in East Lothian – £339,000 on average, and 2.5 times the price as in North Lanarkshire. East Lothian properties cost 2.7 times the price as homes in East Ayrshire (£123,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.

Factfile

Average property price in June

• North Lanarkshire: £137,869
• Scotland:£189,424
• UK: £287,546

Annual growth to June

• North Lanarkshire: +2.5%
• Scotland: 0%
• UK: +1.7%

Highest and lowest annual growth in Scotland

• East Lothian: +16%
• The Orkney Islands: -15.5%