House prices in Argyll and Bute have continued to nudge up even as values nationally have dropped, new figures suggest.

UK prices dropped at their fastest annual rate for 14 years according to a report this week, falling 3.8 per cent.

That's the biggest drop since July 2009 after the last financial crash, said Nationwide.

But figures from estate agents Nested said Scotland wasn't immune to cooling prices from climbing mortage rates, sme areas were still benefiting from growth.

The average price for Argyll and Bute in May 2022 was £181,640, and that's gone up to £187,287 in May 2023. It's a 3 per cent rise of £5,389.

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Scotland's average is also three per cent with a variation from a 16 per cent jump in East Lothian compared to a four per cent drop in neighbouring West Dunbartonshire.

Andy Reid, Nested’s regional partner for Scotland, said: “The Scottish market has performed extremely well during the pandemic but it seems that every inch of the UK property market is currently feeling the effects of high inflation and increasing interest rates, as buyer hesitations are causing a reduction in market activity.

"While a drop in demand will inevitably bring a house price correction, it seems as though many areas of the Scottish market have so far remained impervious and, in fact, continue to register very strong rates of house price growth.

"So for Scottish sellers, now remains as good a time as any to enter the market and while it may take a little while longer to secure a buyer, the chances of securing a good price when you do are still high.”