East Renfrewshire house prices dropped slightly in July

House prices dropped slightly, by 0.7%, in East Renfrewshire in July, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 3.7% annual decline.

The average East Renfrewshire house price in July was £285,795, Land Registry figures show – a 0.7% decrease on June.

Over the month, the picture was different to that across Scotland, where prices increased 1.1%, and East Renfrewshire was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in East Renfrewshire fell by £11,000 – putting the area 27th among Scotland’s 32 local authorities with price data for annual growth.

The highest annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 22.3%, to £186,000. At the other end of the scale, properties in West Dunbartonshire lost 7% of their value, giving an average price of £133,000.

First steps on the property ladder

First-time buyers in East Renfrewshire spent an average of £208,800 on their property – £9,400 less than a year ago, but £40,200 more than in July 2018.

By comparison, former owner-occupiers paid £334,000 on average in July – 60% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices in East Renfrewshire in July – they dropped 0.9% in price, to £145,106 on average. Over the last year, prices dropped by 5%.

Among other types of property:

• Detached: down 0.3% monthly; down 1.7% annually; £521,084 average
• Semi-detached: down 0.8% monthly; down 4.3% annually; £282,752 average
• Terraced: down 0.6% monthly; down 4.4% annually; £215,271 average

How do property prices in East Renfrewshire compare?

Buyers paid 49% more than the average price in Scotland (£192,000) in July for a property in East Renfrewshire. Across Scotland, property prices are low compared to those across the UK, where the average cost is £290,000.

The most expensive properties in Scotland were in Edinburgh – £333,000 on average, and 1.2 times the price as in East Renfrewshire. Edinburgh properties cost 2.6 times the price as homes in East Ayrshire (£126,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in July

• East Renfrewshire: £285,795
• Scotland:£191,870
• UK: £289,824

Annual change to July

• East Renfrewshire: -3.7%
• Scotland: +0.1%
• UK: +0.6%

Highest and lowest annual growth in Scotland

• Na h-Eileanan Siar: +22.3%
• West Dunbartonshire: -7%