HOUSE prices in Renfrewshire and East Renfrewshire have soared in the past year, latest figures show.

According to experts at the Glasgow Solicitors and Property Centre (GSPC), the average price of a house in East Renfrewshire was £184,430 between October and December last year – just over 11 per cent higher than in the same period in 2016, when it was £165,984.

Meanwhile, in Renfrewshire, the average price increased by 15 per cent, from £125,348 to £144,262.

The increases locally are considerably higher than the average for west-central Scotland as a whole, where prices rose by a relatively modest figure of six per cent to £130,768.

Austin Lafferty, spokesperson for GSPC, said: “Over the course of 2017, we saw increases in average selling prices throughout west-central Scotland.

“This was particularly pronounced in Glasgow and with three-bedroom homes in areas popular with families, such as Renfrewshire.

“These increases could be attributed to a shortage of properties for sale, which drives up demand, so that more properties are going for over their asking price.

“We are also finding that properties are selling faster than the same time last year.

“In fact, in 2017, half of all properties sold within 28 days.

“We would encourage sellers to consider marketing their properties, as they are likely to achieve on or above their home report valuation.”

Due to a shortage of homes, properties in popular areas are attracting a number of buyers, which is in turn increasing the percentages over the asking price, as well as the average time to sell.

In the last three months of 2017, homes across west-central Scotland sold for 6.3 per cent above the asking price – up from 5.2 per cent in 2016.

The average time to sell a property in the region during the final quarter of 2017 was 15 per cent faster than the previous year, dropping from 36 days to 31 days.