HOUSE prices in Inverclyde have increased by almost a quarter in the past year, according to new statistics.

Analysis by Walker Fraser Steele shows that the average property price in the area in March was £161,424.

This is up five per cent on February’s figure of £153,706 and represents an increase of 23.7 per cent on statistics from March 2023.

Inverclyde’s jump in prices was considerably greater than any other local authority, with the next highest being Glasgow on eight per cent.

Nationally, average house prices increased by one point four per cent – or almost £3,000.

Scott Jack, regional development director at Walker Fraser Steele, said: “This was a far stronger performance than that witnessed in the English and Welsh markets.

"Scotland's average house price is currently just over £223,500, which is about £300 less than its high price from June 2023.

“Four authorities—Midlothian, Argyll and Bute, Falkirk, and Inverclyde—achieved new heights in terms of their regional average values and the total number of local authorities reporting rising prices was twenty-one, the highest since May of last year – another clear and welcome sign that the market is beginning to stabilise.”

According to the latest data, Inverclyde is the fifth cheapest place to buy a home in Scotland.