Property boom as Perth and Kinross sees prices jump 10 per cent

Property prices in Perth and Kinross are now nearly four times the national average, having risen by almost 10 per cent during the second quarter of the year, new figures from estate agents Aberdein Considine have revealed.

The soaring prices outstrip any city in Scotland, as well as the 2.6 per cent growth recorded across the country as a whole.

While the average price of a home in Scotland now stands at £161,815, the average price of a property in Perth and Kinross has hit £194,653 – up by almost £17,500 on the same period last year.

Laura Considine, a partner at Aberdein Cosidine, said: “The active first-time buyer market has created a ripple effect in other areas of Perth and Perthshire.

“Sales up to £130,000 lead to sellers of those properties looking to purchase between £150,000 and £325,000 – the main Perth market where the majority of buying and selling activity currently takes place.

“We have seen a surge in viewing demand and sales in the middle band over the last few months, with areas such as Scone, Oakbank and Craigie proving particularly popular.”

Meanwhile, the estate and letting agent’s Property Monitor report, which suggests most activity taking place within the £150,000 £325,000 price bracket, also shows that prices in Fife and Dundee have risen by 4.2 per cent and 5.5 per cent in the same period, while Angus has seen a 1 per cent drop.

Dundee saw its average property price rise from £126,343 to £133,312 (17.6 per cent below the Scottish average), with the value of homes in Fife going from £144,561 last year to £150,597.

Prices in Angus are almost 2 per cent below the Scottish average, having dropped from £180,482 in 2016 to £158,900.