A NEW survey shows that property prices have risen markedly in Inverclyde over the past year.

Official statistics compiled by Registers of Scotland show that the average price of a house in the district increased by 5.7 per cent from July to September this year, compared with the same period in 2013.

Selling prices shot up from £123,379 to £130,377.

One local estate agent says the latest figures give him cause to be optimistic about the future.

Brian Harkins, a partner at Brian Harkins Estate Agents, believes a number of factors are behind the rise.

Mr Harkins, pictured, told the Tele: “I believe that the property market is buoyant and strong in the Inverclyde area.

“I’m confident that it will continue going forward.

“Looking at the rise in the average house price, a lot of that is fuelled by the new properties which have been built in areas such as Kingston Dock and Inverkip.

“The second hand market has also levelled out — the prices are not falling.

“This is fuelled by more first time buyers who have managed to get on the property ladder through the Help to Buy scheme, where they can put down a five per cent deposit instead of 10 per cent.” The report from Registers of Scotland shows that the number of sales in Inverclyde decreased from 274 in July to September last year to 271 in the same period this year.

Mr Harkins believes this marginal decrease could be due to the Mortgage Market Review (MMR) — new rules designed to protect consumers from the kind of reckless mortgage lending that would leave them unable to make repayments.

Under the new rules, mortgage applicants face tougher questions about their lifestyle and ability to cope with rate rises.

Mr Harkins said: “The mortgage market review came into effect in May, which tightened up mortgage regulations and lending.

“I think that caused a wobble in buyer confidence, but I’m sure that will change going forward.”