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

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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.

Click here for more news and sport from Dumfries and Galloway.

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.

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.”

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