EAST Renfrewshire has suffered the biggest drop in house prices anywhere in Scotland in the last year. 

Latest figures show the value of a home in the area was down by 9.4%, as opposed to an average rise of 2.9% for Scotland as a whole.

East Renfrewshire is traditionally one of the most expensive places in Scotland to buy a property, with the cost of living fuelled by demand from parents to find places in the area’s top performing state schools, including Barrhead High and St Luke’s High.

Figures from Scottish Government agency Registers of Scotland (ROS) show that, between June 2019 and June 2020, the biggest single fall was in East Renfrewshire, where the average cost of a home plummeted from £235,136 to £213,124.

However, the average value of a property in the area was still almost £60,000 higher than for Scotland as a whole.

One leading East Renfrewshire estate agent has expressed surprise at the figures.

Douglas Nicol, director and founder of Newton Mearns-based Nicol Estate Agents, told the Barrhead News that business has been booming in the last year, particularly since lockdown restrictions were lifted.

He added: “I can’t believe these figures, as they do not reflect the business we are doing at the moment.

“Some of the best prices are being paid ever in East Renfrewshire. These statistics are not a true picture of the current market.

“Demand is outstripping supply and properties are selling for some of the highest prices ever.

“Low interest rates are also making it easier to buy at the moment, with properties more affordable.”

Although there was a drop in East Renfrewshire, house prices increased over the last year in 21 out of 32 local authority areas.

Mr Nicol added: “There is no particular reason why East Renfrewshire should be out of kilter with the rest of Scotland.

“The data, in my opinion, is wrong and does not present a true picture.

“The housing market was closed from between March and June, so I cannot see why some areas are performing so much better than here.

“You also cannot really compare East Renfrewshire with other parts of Scotland.

“If you take into account the figures for July and August, then you have a different picture.

“The reduction in value of properties is not what we are seeing on the ground. It’s all been pretty buoyant, particularly since the lockdown.

“For example, our average monthly house sale price is closer to £300,000.”

Faisal Choudhry, head of research for estate agents Savills, said that, since the property market reopened two weeks ago, the number of agreed sales in East Renfrewshire is 47% higher than in the same period last year.

He added: “A friend of mine was bidding for a house in Giffnock, near to St Ninian’s High, and it went for £100,000 over the asking price.

“The market in East Renfrewshire remains hot because of the good schools effect and quality of life.

“Barrhead is attracting buyers who are being priced out of the main hotspots of East Renfrewshire and wider Greater Glasgow.”