House prices in Dumfries and Galloway named among the most affordable in Scotland

The average house price-to-earnings ratio in Dumfries and Galloway  is one of the lowest in the UK
-Credit: (Image: Reach Publishing Services Limited)


Dumfries and Galloway has been named as one of the most affordable places to buy a house in Scotland.

Analysts at Halifax have crunched the numbers to compare house prices and earnings in council areas across the UK.

And they’ve discovered the average house price-to-earnings ratio in Dumfries and Galloway in the third-quarter of 2024 was 3.4, compared to the Scottish figure of 5.08 and a UK wide figure of 6.55.

That’s the same ratio as West Dunbartonshire and the fourth equal lowest ratio in the whole of the UK.

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Halifax have also discovered the average house price in the UK has increased by 3.8 per cent in the last year – reaching an average of £292,509 – while the annual earnings for full-time workers rose by five per cent to an average of £44,667.

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Head of Haliax Mortages, Amanda Bryden, said: “Housing affordability has improved over the past year, thanks to stabilising property prices, strong wage growth, and easing interest rates.

“That’s great news for first-time buyers and existing homeowners looking to remortgage or move up the property ladder.

“However, while homes are becoming more affordable, the progress has been gradual.

"Buying a property remains a significant challenge for many, with prices still near record highs and interest rates likely to stay higher than we’ve been used to over the past decade.”