Highland house prices rise as market continues to strengthen

Figures just released by the Highland Solicitors Property Centre (HSPC), leaders in Highland properties sales for more than 30 years, show that average house prices and total sale value both increased in 2014.

The total value of properties sold by HSPC in 2014 was £193.887 million – 3% up on 2013 and the highest figure since 2008. At the same time, the average house price in the Highlands and Islands increased by 4% compared to 2013, to an average figure of £168,012.

The number of properties sold was down marginally (0.9%) on 2013, notably affected by a slowing of sales around the time of the Independence Referendum in September.

However, an 8% increase in the number of properties being added to the HSPC register during 2014 reflects growing confidence among house sellers. Interest in the Highlands and Islands market is also strong, as indicated by a 5% increase in visitors to the hspc.co.uk website over the past year.

Sarah Woodcock Manager HSPC

Commenting on the 2014 figures Sarah Woodcock (above), Manager of HSPC, said:

“The strong total sales value and the rise in average prices is a good indicator that the Highlands property market is stabilising after a number of years of less confidence due to the general tough economic climate.

“One of the best features of 2014 was the 8% increase in the number of properties coming into HSPC for sale. This not only shows sellers’ belief in the strength of the Highland property market, but reflects continued confidence in the HSPC brand.

“Looking ahead to 2015, a lot will depend on the general economic conditions. While the UK is relatively stable compared with other parts of Europe, it is still a bit of a guessing game. But, we start the year with positive moves in the Highlands, including the establishment of the University of the Highlands and Islands and the current levels of activity in the building industry.

“Building on the stable figures we produced in 2014, we certainly hope for another year of steadily growing confidence.”
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