Latest News From Complete Clarity Solicitors

The latest UK House Price Index (UK HPI) has revealed an average annual property price increase of 8.4% in August, taking the average property value in the UK to £218,964. On a month by month basis, average house prices rose by 1.3% since July.

Solicitors Property Centres Scotland has recently published some initial thoughts on what impact the Brexit decision might have on the property market in Scotland.

The first quarter of 2016 has seen a fall in the length of time taken to sell a property in east central Scotland, according to the latest House Price Report from ESPC. The figures show that the median selling time dropped from 69 days in the first quarter last year to 41 days this year, a fall of 39.9%.

There has been a 10.3% annual increase in the number of houses sold in East Central Scotland between June and August 2015, according to a recent report by ESPC. At the same time there has been 1.0% fall in the average selling price compared to the same period last year.

There was a 4.1% increase in the number of houses sold across Edinburgh, the Lothians and Fife between May and July 2015, compared to the same period last year.

There has been a slight fall in house prices across East Central Scotland, according to the latest ESPC House Report, although certain areas continue to buck the trend, including Dunfermline and parts of Edinburgh.