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House Price Growth Summer 2021 Posted: 21st September 2021

In the year to June, house prices soared 13.2% which is the highest annual growth since 2004 according to the latest House Price Index from the Office for National Statistics (ONS).

In June, the average property price was 4.5% higher than May as buyers were keen to push through their property purchase.

In Scotland, house prices were up by 12% to £174,000 which is a sharp increase in house prices. Regionally, only London was lagging behind.

June 2020 was significantly affected by the closure of the housing market, with things opening back up at the end of that month, making the figures appear more volatile. The true underlying annual rate of house price growth is believed to be around 8% to 10% which is still very high compared to the rate of inflation. By the end of the year, we may see the annual rate of growth to fall back to this range.

Looking ahead to the first quarter of next year, predictions are for a continuation of a strong housing market and rising house prices as demand and momentum shows no signs of slowing.

Here in East Renfrewshire, house prices are continuing to rise as the demand for good quality family homes with three or more bedrooms, close to the high achieving schools we have in the area are in high demand. We have many disappointed buyers looking to move to the area or move up the property ladder so your home could well be worth more than you think.

Contact us at Nicol Estate Agents and will will talk to you about the market in general and how the market in your area is performing.

Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.