Overall housing output north of the border continued to flatline with just 88 more homes, the equivalent of around 1%, built in 2016 compared with the year before, and yet the housing statistics provided by Homes for Scotland suggest that things will not improve any time soon with a 2% decline in the number of homes started in the same period.
It is widely accepted that boosting the supply of new homes in Scotland would stimulate economic growth in the country, not to mention provide more much needed new homes, but the data from the industry body indicates that the widening supply-demand imbalance in Scotland, which is placing upward pressure on home values, is unlikely to be resolved anytime soon.
According to Your Move’s latest Scotland House Price Index, residential property prices increased by an average of £3,217 in Scotland in April, taking the average property value to £175,087. Consequently, annual house price growth rebounded strongly, rising from 2.2% in March to 3.6% in April, and is now outpacing the 3.5% rate for England and Wales as a whole in the year to April.
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