House prices have risen by an average of £15,572 in Dumfries and Galloway in the past year.
New figures show a 10.9 per cent hike, climbing from £143,358 in March, 2021, for the average property to £158,930 in March this year.
This works out at the value of houses rising by £43 every day.
However, the inflation of the housing market is much higher in other parts of Scotland, according to the latest stats from the Office for National Statistics.
The average house price in East Lothian rose by 16 per cent in the year to March. That was an increase from £248,479 to £288,178 in a year – meaning, on average, house prices have grown by £39,699, or the equivalent of £109 a day.
In the city of Edinburgh, prices are up £37,134, or an average of £102 a day, going from £285,721 to £322,855.
There’s also been a 11.9 per cent rise in house prices in East Renfrewshire, or a £29,925 increase over the year (£82 per day). The average home now costs £282,390, compared to £252,465 a year before.
UK average house prices increased by 9.8 per cent over the year to March, 2022, down from 11.3 per cent in February, 2022. The average UK house price was £278,000 in March ,2022, which is £24,000 higher than this time last year.
Nathan Emerson, chief executive of Propertymark, which represents estate agents, said: “The year-on-year increase shows there is still plenty of momentum within the housing market. However, we are now seeing some signs of things starting to cool.
“But we keep coming back to the issue of low supply being the main driver of rising prices. Our member agents are telling us that it’s still an issue and that the number of people looking to buy remains far higher than the number of properties they have listed.
“This, coupled with incredibly low borrowing rates, is likely to maintain prices in the short to medium term.”
Mike Scott, chief analyst at national estate agency Yopa, also said the expectation was that month-on-month growth would resume in next month’s report, with the annual rate of growth staying around 10 per cent.
He said: “House prices cannot continue to defy gravity forever but the current shortage of homes for sale and high demand from people who are still re-evaluating their lives and priorities for the post-pandemic world are likely to continue to support prices for at least the rest of 2022 and we do not anticipate any significant falls in nominal house prices this year.
