THERE are signs the property boom in Renfrewshire and East Renfrewshire has finally come to an end.

Latest figures from the UK House Price Index show the average price of a home bought in Renfrewshire in February was £117,125 – down by more than two per cent on the figure of £119,642 for the same month in 2018.

And it was a similar picture in East Renfrewshire, where the average price was £220,350 – down by almost two per cent on the previous year’s figure of £224,260.

The drop in house prices recorded locally was significantly higher than that for Scotland as a whole, with the national average standing at £145,762 in February – a decrease of just 0.2 per cent on February 2018.

This is the first annual decrease in the average price of a property in Scotland since March 2016.

Janet Egdell, accountable officer at Registers of Scotland, said: “Prices increased in around two-thirds of local authority areas and different property types showed a mixed picture, indicating that the market is highly variable across the country in this time of uncertainty.”

The biggest price increases compared to the previous year were in Midlothian and Perth and Kinross, where average values increased by 9.9 per cent to £185,753 and 8.8 per cent to £192,631 respectively.

The largest decreases were recorded in Aberdeen City and Aberdeenshire, where average prices fell by seven per cent to £149,435 and 5.8 per cent to £180,862 respectively.

There has also been a drop in the number of homes being sold in both Renfrewshire and East Renfrewshire.

Latest figures show a total of 289 properties were sold in the Renfrewshire area in December, compared to 308 in December 2017.

Meanwhile, just 97 properties were sold in East Renfrewshire – down by 50 on the same month in the previous year.

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