The latest UK House Price Index has revealed that average house prices in the UK increased by 5.0% in the year to August 2017 (up from 4.5% in July 2017). According to the Office for National Statistics, which published the Index, the annual growth rate has slowed since mid-2016 but has remained broadly under 5% during 2017.
It is harder to take the second step on the property ladder than it is to get on the ladder in the first place, according to a recent report.
The average price of a property in Scotland in June 2017 was £144,253, according to the latest UK House Price Index. This is an increase of 2.9% compared to June the previous year and an increase of 0.1% over the previous month.
There has a been a slight deterioration of consumer confidence in the housing market, caused by short-term uncertainty from the General Election result, according to the Building Societies Association (BSA).
A new report from Registers of Scotland (RoS) has revealed that the total value of the residential sales market in Scotland from 2007-08 to 2016-17 reached over £143.4 billion.
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