First time buyers spend average of £151,000 in Borders

Over that period the average sale price of property in the Scottish Borders rose by £20,000 – putting the area 12th among Scotland’s 32 local authorities with price data for annual growth.

Detached houses were up 14.2 per cent annually averaging £335,037 whilst semi-detached houses rose by 13 per cent to £200.851 on average.

Terraced houses were up 11.7 per cent annually averaging £164,926 and flats were up 8.7 per cent annually averaging £106,457.

First-time buyers in the Scottish Borders spent an average of £151,000 on their property – £15,000 more than a year ago, and £40,000 more than in January 2017.

By comparison, former owner-occupiers paid £229,000 on average in January – 52 per cent more than first-time buyers.

Buyers paid 6.3 per cent more than the average price in Scotland (£183,000) in January for a property in the Scottish Borders. Across Scotland, property prices are higher than those across the UK, where the average house cost £274,000.