Latest prices in Inverclyde for Terraced properties
The latest figures show that the average price for a Terraced property in Inverclyde has now reached £129,325 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Terraced property have increased substantially over the longer term in Inverclyde. Back in January 2004, prices for this type of property averaged £65,530 based on sales at the time. Fast forward to January 2024, and averages reached £117,729 - representing a growth of 80% over 20 years.
This substantial double-digit percentage rise in Terraced property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Terraced homes in Inverclyde over the past 2 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Terraced prices in Inverclyde over the last 12 months
Date
Price
Aug 2023
£121,487
Sep 2023
£123,255
Oct 2023
£122,120
Nov 2023
£118,645
Dec 2023
£115,264
Jan 2024
£117,729
Feb 2024
£119,441
Mar 2024
£120,598
Apr 2024
£117,651
May 2024
£116,751
Jun 2024
£122,111
Jul 2024
£129,325
Recent trends for prices in Inverclyde
The latest figures from July 2024 indicate the property market in Inverclyde continues to show rising price trends. Compared to June, 2024, average prices increased by 6% to £136,260. On an annual basis, average property prices have increased 9.2% since 12 months ago.
In terms of sales activity, there were 103 residential property transactions completed in Inverclyde during July, 2024. Of these purchases, 67 were financed with a mortgage while 36 were all-cash sales. For cash buyers, average prices have changed by 5.9% since June, 2024, coming in at around £122,809. For properties purchased with a mortgage, the average price changed by 6% since June, 2024, to £144,290.
Compared to the overall picture in its national parent Scotland, the average property price in Inverclyde are lower than the current national average of £199,398. While Inverclyde saw a change of 6% over the last month, Scotland as a whole recorded a percentage change of 3.1% in average property values. And on an annual basis, prices across Scotland have grown by 6%, less than the 9.2% yearly change seen in Inverclyde.
Interested in purchasing a property in Inverclyde? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Inverclyde by housing type
Prices last recorded in July, 2024
average
£136,260
detached
£308,612
flat
£96,237
semi-detached
£158,362
terraced
£129,325
Prices by housing type in Inverclyde
Recent data shows that price growth has varied across different property types in Inverclyde over the last year. For terraced houses, property prices changed by 5.9% between July 2024 and June 2024 to reach £129,325, and changed by 10.3% over the last 12 months. The annual change was less than the 6.2% change seen for terraced homes in Scotland overall.
Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £158,362 in June 2024. This represents a 5.9% change from the same month last year.This is outperforming the 6.6% annual change in semi-detached values across the country.
Detached homes in Inverclyde gained 6.4% month-over-month to reach an average of £308,612. Annually, detached property values have changed by 8.8%. This is stronger price growth compared to Scotland's 7.8% change for detached houses over the year.
For apartments and flats, average prices increased by 6% between July and June 2024, hitting £96,237. Over the last 12 months, apartment values have changed by 8.8%, surpassing Scotland's flat and apartment growth rate of 4.6%.
Overall, terraced properties have seen the strongest price momentum locally over the past year, with a change of 10.3%, while flat properties lagged, with a change of 8.8%.
Recent purchases in Inverclyde
According to data from HM Land Registry, there were 103 completed property purchases in the area of Inverclyde in July 2024. Of these sales, 36 were recorded as cash purchases whilst 67 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 9.6% and the percentage of properties purchased with cash has changed by 8.7%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in inverclyde.
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