Slight drop in Argyll and Bute house prices

The average price of a residential property in Argyll and Bute between April and June of this year was �153,629.
The average price of a residential property in Argyll and Bute between April and June of this year was �153,629.

The average price of a house in Argyll and Bute fell by 1.6 per cent in the first quarter of the new financial year, according to figures released this week.

The quarterly house price survey carried out by the Registers of Scotland found that the average price of a residential property in the area between April and June of this year was £153,629 - compared with £156,066 for the same three-month period in 2014.

Argyll and Bute was one of ten local authorities in Scotland where house price values fell in comparison to the same quarter last year - the steepest fall was one of 7.0 per cent in East Renfrewshire, followed by a fall of 3.9 per cent in East Dunbartonshire, two of the most affluent areas in the west of Scotland.

By contrast, the biggest quarterly increase in house prices was one of 10.1 per cent in West Dunbartonshire, followed by 8.6 per cent in Aberdeen City and 8.5 per cent in Fife.

The total volume of residential property sales in Argyll and Bute also showed a decline - this time of 4.2 per cent, in comparison to the first quarter of 2014-15 - while the total value of sales in the area fell by 5.7 per cent, to £55,767,146.

The average house price across Scotland as a whole for the period from April to June was £162,157 - an increase of 3.5 per cent on the same quarter in 2014.