Good news for Ayrshire homeowners! House prices in the area have gone up by more than the rest of Scotland, new figures show. Could this be a sign of a property boom in the area?

Across Scotland, the average house price in July was £225,113. That’s 1.9% higher than July last year.

But in Ayrshire, prices have climbed even higher. East Ayrshire takes the crown with a 7.4% increase! The average house price there is now a healthy £158,818.

South Ayrshire isn’t far behind. Prices there rose by 3% to reach £196,147. Even North Ayrshire, which saw the smallest increase, still beat the national average with a respectable 2.7% rise. The average house price in North Ayrshire is now £152,469.

What’s behind this increase in Ayrshire house prices?

Scott Jack, an expert from Walker Fraser Steele, the company that analyses house prices, says: “Our figures show that average prices have been higher than they were at their peak in September 2023 for a good few months now. Nearly every part of Scotland is doing better than England and Wales. It just goes to show how strong the Scottish property market is – prices are doing really well.”

Good news for buyers and sellers

So, what does this mean for you? If you’re thinking of selling your home in Ayrshire, now might be the perfect time to cash in.

And if you’re hoping to buy? While higher prices mean digging a bit deeper, experts believe the market will stay strong.

Mr Jack added that even though things like property taxes are higher in Scotland, it doesn’t seem to be putting off buyers. In fact, more and more first-time buyers are getting mortgages.

With interest rates expected to fall in the coming months, borrowing money should become cheaper. This, along with a strong jobs market, means experts think prices in Scotland will stay high over the next year.