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Region’s house prices increase by 31 per cent

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By Fiona Reid
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Region’s house prices increase by 31 per cent

HOUSE prices in the region grew by 31.3 per cent in the last decade.

In December 2011, the average house price (AHP) in Dumfries and Galloway was £133,510.

But in December 2021, it had gone up to £172,412.

The biggest growth happened in the five year period between 2016-21, which saw a 24.3 per cent increase.

And in the last year, between December 2020 and 21 the price rise was just over five per cent locally.

However, the area is still lagging behind the Scottish national average of £213,646.

The figures were released by Walker Fraser Steele and their business development manager Alan Penman said: “This can only be described as an exceptional annual performance with 31 of the 32 local authority areas in the country recording rising prices over the last 12 months. “Though we can see from our data that the annual rate of price growth has begun to slow in pace, house prices continue to rise ending the year on a new high.

“When you step back and cast your eye over what has happened to house prices in the last ten years in Scotland, the percentage rise in Scotland’s average house price is some 38 per cent. The last five years accounts for most of this growth and in particular the pandemic period when the demand for bigger properties to accommodate post-pandemic working and living needs and the lack of suitable stock have supported growth.”

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