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The places in Scotland where house prices increased the most in 2022
30.12.2022 - 03:29 / dailyrecord.co.uk
The Scottish locations where house prices rose the most in 2022 have been revealed in a new report from Bank of Scotland.
The top three fastest growing markets were Kirkcaldy, Johnstone and Dunfermline, according to the data. On the other hand, the places with the lowest growth were Coatbridge, Kilmarnock and Glenrothes.
Housing in the Fife town has historically been very affordable when compared to the national average in Scotland. However, prices in Kirkcaldy this year rose by £45,798 to £203,577.
It recorded Scotland's strongest house price growth in 2022, rising 29 percent in the 12 months leading up to November.
In second place for highest growth was Johnstone in Renfrewshire, which saw house prices rise by £48,127 — or 24.4 per cent — over the last year. They currently stand at £245,849, up from £197,722 in 2021.
Back in Fife, Dunfermline also recorded strong growth according to Bank of Scotland. The average property increased in value by 19.1 per cent (£36,394) over the last year, from £190,087 to £226,481.
Looking at Edinburgh, average house prices have risen by 12.9 per cent (£37,781) to £330,607. Meanwhile, in Glasgow, average house prices rose to £246,209 this year — an increase of 13.6 per cent (£29,512) compared to 2021.
Meanwhile, the report states that Ayr and Inverurie were the only towns to see prices fall during 2022. House prices dropped by 1.7 per cent and 0.2 per cent respectively.
According to Bank of Scotland, it has been "a positive year for many homeowners in Scotland hoping to see the value of their property increase".
Average house prices increased by 10.9 per cent, with the average Scottish home now costing £242,213 — an increase of £23,814 on last year's figure of £218,399.
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