THE average house in Dumfries and Galloway now costs £184,385.
That’s 5.9 per cent up on the same time last year.
However, experts say they are seeing a change in the market and there was a monthly change between January and December, with property prices two per cent down locally.
This reflected the national trend as Scott Jack from Walker Fraser Steele explained: “We are likely seeing a conflation of factors that have resulted in this fall. On a purely seasonal note, January and February are traditionally slower months for housing transactions in Scotland – partly as a result of estate agency Christmas closures and reduced daylight hours for viewings.
“However, a fall in the average house price was perhaps inevitable given the sudden rise in the cost of mortgage finance and the economic turmoil brought about by the Truss-Kwarteng mini-budget.
“But a fall in the average has not meant a fall across all property types. If we look beyond the headline average house price fall of 0.9 per cent, we can see how the varied types of property stock fared differently over the month. During January it was the price of flats that fell the most, by, followed by terraces, and semi-detached properties.
“Meanwhile, the average price of detached homes remained steady during the month, with a zero per cent price change.
“So, the average house price fall requires some perspective.”
The firm’s figures also revealed that the average house price in January 2022 for this region was £174,089.
