Well, that’s partly true. The proud home of the impressive Stirling Castle, the iconic Wallace Monument and a sporting centre of excellence, this historic town and its neighbours – including leafy upmarket Bridge of Allan – offer buyers a choice of rural and town properties. A brilliant springboard into Scotland’s great outdoors, it’s also a town that gives residents easy access to Glasgow, Edinburgh and Perth by road or rail
Over the past 12 months, macroeconomic and political events, including soaring inflation, rising energy costs, higher borrowing rates and a cost of living crisis have all impacted Scotland’s residential housing market. Few of us have foreseen the turmoil of recent months and in my opinion, it’s a brave person who makes steadfast predictions for the year ahead!
However, as independent experts in our sector, the Home Report Company believes the challenges of 2023 may still potentially offer great opportunities for buyers and sellers alike. My many years of advising clients have underlined one constant truism – sellers will always wish to aim high and buyers will wish to aim low.
Data from the UK House Price Index reveals that the average price of a property in Scotland in November 2022 was £191,492, an increase of 5.5 per cent on November 2021. So what about Stirling?
House Prices in Stirling
According to the UK House Price Index Scotland (Nov 2022), Stirling showed a 5.5% positive annual price change of its properties from £235,514 (November 2021) to £248,369 in November 2022. This is a favourable hike when you consider that the average price for property in Stirling in December 2020 was £219,000. Average prices in Stirling rose by 1% between October and November 2022.
In terms of property types, recent data shows that over the last 12 months flats in Stirling sold for an average of around £148,000 while terraced properties secured an average price of over £197,000 and detached houses over £370,000.
Neighbouring Stirling is the wider local authority area of Clackmannanshire with the combined population of circa 140,000 residing in a broad catchment of urban and semi-rural communities. Consequently, if you are a first-time buyer, keep in mind that if you are willing to live a few miles from Stirling and look eastwards towards the communities of Alva and Alloa, you may secure a flat for well under £100,000.
If you are a seller, be mindful that all of the above figures are a guide and that every property will attract its own valuation. Notably, as economic pressures bite, you may also find that properties in Stirling continue a recent trend of taking longer to conclude a sale. A flat may sell within three weeks while a substantial £500,000+ detached family home may take at least 6-8 weeks to conclude. This is essential to consider if you’re planning on selling a house in Stirling anytime soon.
Stirling Property Market Predictions: What to Expect in 2023
- Stirlingshire continues to offer a rich mixture of town and semi-rural living. For buyers and renters looking to benefit from access to more green spaces, Stirling is an attractive option.
- With a strong student population and a location easily commutable for work in Perth, Glasgow and Edinburgh, Stirling may be an attractive option for buy-to-let investors – noting a markedly lower buy in cost than Edinburgh.
Get a Home Report from Home Report Company
As a buyer, you want reassurance and peace of mind that your dream home will be everything you imagine. Avoid any surprises by getting a Home Report early in your buying journey. Find out more about Home Reports and the different documents which are included.
If you have any questions about buying or selling property or would like to ask us for more information give us a call 0131 608 0175 or email info@homereportcompany.co.uk
