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Scottish house prices saw solid growth during 2016, latest data shows

Average house prices in Scotland increased by 0.2% in December 2016 and sales volumes reached their highest level for nine years, the latest index shows.

Year on year prices are now up by 2.2% to an average of £172,204 but while growth is ahead of the 2.1% annual rise for Wales and 1.3% in London, Scotland is still behind England, according to the Your Move index.

The Shetland Islands saw the biggest price growth in December at 10.9% and East Renfrewshire finished 2016 with the top growth of 11.5%, overtaking Edinburgh. Only Aberdeen saw prices fall with an annual decline of 4%.

Overall the index report says that the market in Scotland has largely seen steady growth since the spike in anticipation of the introduction of the Land and Buildings Transaction Tax in April 2015 and the subsequent fall in prices.

But Scotland has largely escaped the price drops seen at the top of the market in England and lower priced property has outperformed the top of the market growing 1.9%. The rise is supported by solid increases in areas such as West Dunbartonshire, up 7.1%, and Clackmannanshire up 6.1%.

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