News / House price anomaly
STATISTICS suggesting Shetland house prices are falling have been rubbished by local property experts.
This compares to a Scotland wide increase of 5.2 per cent.
However property manager Robert Bell from Lerwick legal firm Dowle, Smith & Rutherford said the figures bore no relation to the reality.
“The problem is the Shetland market is so small that you can get anomalies from period to period, because more smaller properties may have been sold than bigger ones,” Bell said.
“This does not bear any relation whatsoever to the actual position. If the report said prices had moved eight per cent upwards I would have been more inclined to believe them.”
Registers of Scotland said that 97 properties changed hands in Shetland between July and September, compared with 96 last year, with the average price falling from £137,917 to £126,089.
Become a member of Shetland News
Shetland News is asking its readers to consider paying for membership to get additional perks:
- Removal of third-party ads;
- Bookmark posts to read later;
- Exclusive curated weekly newsletter;
- Hide membership messages;
- Comments open for discussion.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a member of Shetland News by either making a single payment, or setting up a monthly, quarterly or yearly subscription.
Already a member? Sign in to hide this message.
