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Scotland prices surged at the end of 2020

Scotland’s house prices rose by 3.1% month-on-month to £198,157 in November 2020, the largest monthly increase since March 2015. 

The data comes from The Walker Fraser Steele House Price Index (Scotland), which was formerly the Your Move Acadata House Price Index. 

Alan Penman, business development manager at Walker Fraser Steele, said: “The growth was felt across the board, with 29 of the 32 (91%) local authority areas seeing month-on-month price increases. Additionally, transaction numbers remain strong, with our data showing that October volumes surpassed the monthly totals of the previous six years. The busy market reflects an increase in the demand for homes and confirms widespread price growth, rather than for a small number of purchases at the top end of the market.

“Despite the monthly growth, the activity pause in the first lockdown caused overall transaction numbers from January to October 2020 to be down 27% from the same period last year.” 

The two major cities of Glasgow and Edinburgh have both experienced rising annual price growth of 5.0% and 3.8% respectively.

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