Lanarkshire towns see house prices rocket in last 12 months

dailyrecord.co.uk:

Two Lanarkshire towns have seen house prices rocket in the space of the last 12 months. Airdrie and Hamilton both placed in the top 10 towns and cities where prices rose the most in 2021/22.The North Lanarkshire town saw the average house price rise from £157,267 to £183,220, a rise of over 16 per cent which put it in sixth place.The Lanarkshire Live app is available to download now.

Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android Hamilton finished in ninth place with prices rising by 13.4 per cent from an average of £191,775 to £217,434.

The average Scottish home now costs £242,213, an increase of £23,814 (10.9%) on last year’s figure of £218,399.However, as the increasing cost of living puts more pressure on household finances and rising interest rates impact mortgage affordability, there is expected to be more caution among both buyers and sellers – and therefore house prices are likely to fall next year.

Both Coatbridge and Motherwell were named in the bottom 10 of Scottish towns and cities who had the lowest growth in average house price.