By Molly Bishop

The average housing price in Stirling is at its all-time highest since 2020, according to the latest statistics by Registers of Scotland.

The average cost for a home in Stirling as of September 2022 is £243,137, which is just below the average cost in 2020 of £245,849.

As shown in the graph above the pandemic saw a significant increase in housing prices in the Stirling area, with the average price of a Stirling residence skyrocketing above the average price for Scotland, which remained at £190,278 in 2020.

This increase has had a lasting effect on the Stirling property market and despite prices dipping again in 2021, the 2022 housing crisis has brought them back up.

Stirling housing prices have had an increase of almost £60,000 in the last ten years and an increase of almost £114,000 in the last 19 years, with the average cost back in 2012 standing at £183,282. This significant increase comes at a time of economic uncertainty as Scots continue to battle the cost-of-living crisis. The price for a home in Stirling has consistently stayed above the average price for a home in Scotland over the last 10 years.

However, despite the increase in housing prices, it appears more people in Scotland are buying property in the last 10 years. The graph above shows the average amount of homes sold in September throughout the last 10 years. In September 2012, 5,675 properties were sold in one month in Scotland. This is significantly less than the 8,863 properties sold in September 2022. An average amount of £885,728,899 was made in property sales in September 2012, in comparison to the massive £1,995,236,097 made in September 2022.

The data above shows that East Lothian as of September 2022 has the highest average price for a home in Scotland, at £325,053 closely followed by the City of Edinburgh. The lowest housing prices currently stand with Inverclyde at £160,220. The City of Edinburgh and the Highlands appear to have the highest increase in average housing costs over the last 10 years, with an average increase of about £70,000.

Mortgage rates shot up this year due to the former Prime Minister Liz Truss’ disastrous mini-budget back in September. First Minister Nicola Sturgeon commented on the effect this would have on the Scottish people.

“A sharp rise in interest rate is going to have a very profound effect on mortgages and those with credit card debt, and that will push more people into very serious financial stress.”

However, in more positive news, housing prices are expected to fall in 2023 according to Lloyd’s bank. Lloyd’s bank which also owns the Bank of Scotland expects they will fall by 8%.

Data gathered from: https://www.ros.gov.uk/data-and-statistics/house-price-statistics