A NEW report has lifted the lid on the yawning gap in house prices between Renfrewshire and East Renfrewshire.

Latest figures provided by housing experts Your Move show the average property in East Renfrewshire is worth £272,623 – almost double the value in Renfrewshire, where the figure stands at £147,942.

And there is good news for homeowners in both regions, as property prices have soared over the past year.

House values in East Renfrewshire have grown by 13.4 per cent – second only to Edinburgh – while there has been a 10.5 per cent rise in Renfrewshire.

Alan Penman, of chartered surveyors Walker Fraser Steele, said: “We should welcome the growth we’re seeing in property prices because it reflects a strong economy.

“We shouldn’t be blind to the fact that price increases reflect not just strong demand but also a pronounced lack of supply in housing, however.”

A total of 26 out of 32 local authorities in Scotland recorded growth in house values over the past year.

The highest average property price is in Edinburgh, where the figure stands at £288,039, with East Renfrewshire in second place.

Falkirk leads the way in annual price growth, which stands at 15.4 per cent.

Christine Campbell, Your Move managing director in Scotland, said: “The Scottish market goes from strength to strength, with Edinburgh driving growth but excellent performance found across the country.

“With property in Scotland still very affordable, it is possible this will continue too.”

Across Scotland as a whole, the average house price stands at £184,850.

That represents a 7.7 per cent increase over the past year, which compares favourably to more modest increases recorded in both England and Wales.

However, there are signs that the property boom in Renfrewshire and East Renfrewshire is starting to slow down.

Average prices in East Renfrewshire between February and March this year rose by less than two per cent, while there was no growth at all recorded in Renfrewshire.