WEST Dunbartonshire remains one of the most affordable areas in Scotland to buy a property, according to new research.

A study by chartered surveyor, Walker Fraser Steele, found that the authority had the second lowest average house price in Scotland, behind Inverclyde.

But West Dunbartonshire also witnessed a record annual rise in the average property price, of 11.3 per cent.

In July 2022, the average cost of property in West Dunbartonshire was £150,288, compared to £135,043 one year earlier.

It was also a rise compared to the previous month, with the average cost of property £148,216 in June 2022.

Across the country, 11 local authorities experienced record average prices.

Records continue

David Muir, of David Muir Estate Agents in Dumbarton, commented: "The average price rise in West Dunbartonshire is of no surprise given the explosion of demand post-pandemic.

"Immediately on restrictions of movement being lifted, the area witnessed unparalleled activity from potential buyers. This, coupled with the shortage of property stock, led to closing dates and well above home report offers being submitted.

"This out-of-balance demand versus supply continued into the first half of 2023, therefore average prices may again have risen."

David continued: "We have noticed recently a slight downturn in demand while property stock has risen. This has settled the market slightly although terraced, semi-detached and detached properties located in good estates and addresses are still witnessing multi viewings and offers.

"As we approach the last quarter of the year, we would normally see the property market slowing down. However, no one could have foreseen the extraordinary demand over the last 18 months - therefore it is difficult to predict what lies ahead."

Scott Jack, regional development director at Walker Fraser Steele, said: “Records continue to be broken as the average price paid for a house in Scotland in July 2022 reached £224,035, establishing yet another record price for the country – the 13th occasion that this has happened in the last 13 months.

“It is tempting to wonder how long this can continue, but every time we pause for breath, prices rise again.

“There is evidence of a fall in transactions in this month’s data, which a number of surveyors in Scotland believe is a regular feature of June and July’s housing market, coinciding as it does with the school holidays, and at a time when, emerging from the pandemic, people have been very keen to get away.

“Interestingly in terms of the type of property that is selling for higher prices, the ‘race for space’ may be in abeyance as people return to the suburbs and semi-detached properties that suit hybrid working.”

Neighbouring Argyll and Bute saw the sharpest rise in average property prices anywhere in Scotland, with a hike of 18.1 per cent. It is the 11th most expensive authority in which to buy a property, with an average price of £228,938 in July 2022.

The Walker Fraser Steele Acadata HPI (Scotland) uses the actual prices at which every residential property in Scotland was transacted, including prices for properties bought with cash, using the data provided by Registers of Scotland as opposed to valuation estimates or asking price.