Shetland has experienced the most significant house price rise in the UK over the past year, with an average home now costing £215,170. This represents a 21% increase since 2023 and a 22% jump since 2019. The island's appeal is attributed to its breathtaking beauty and the oil industry's historical impact on its population.
Shetland has seen the starkest house price increases over the last year, as per new data. 100 miles off the coast of northern Scotland, you’ll find Shetland – which, on top of being the windiest place in the UK, has seen the highest percentage growth in house prices over the last year. As per new research, the average house price in Shetland is now £215,170, which marks a whopping increase of 21% since 2023 and 22% since 2019.
However, recent statistics from the Registers of Scotland suggested an even starker uptick, placing the growth at 30% since 2018. This marks a considerable difference from the mainland, which has seen comparative increases of 23%. Unsurprisingly, it isn’t just Shetland that’s seen house prices skyrocket in recent years. As per estate agent Hamptons findings, Cherwell in Oxfordshire was in second place with an average house price of £367,770, marking a year-on-year increase of 9.3% and a five-year increase of 30%. Elsewhere, East Renfrewshire in Scotland has seen prices jump up by 8.9% – placing them at an average of £303,980 – while Blaenau Gwent in Wales has undergone an uptick of 8.4%. Why does Shetland appeal so much? For starters, it’s no secret that the islands are breathtakingly beautiful – which no doubt is a push point in influencing people to relocate there. Between 1971 and 1981, the population rose considerably – by 31% – on account of the oiling industry. However, since the 1980s it’s stayed relatively stable, increasing from just 22,000 to 23,000, as per data from the Shetland Islands Council. Shetland is known for being breathtakingly beautiful and, as the UK’s most northerly inhabited place, Unst – a North Isle of the Shetland Islands – is often referred to as the ‘real life’ Treasure Island because the location heavily inspired the book’s author, Robert Louis Stevenson, who famously visited in 1869
HOUSEPICES SHETLAND UK REALESTATE INFLATION
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