Shetland: Property, Schools and Retirement Costs
Across the 3 Shetland locations we cover, the average property price is £181,667 and Band D council tax averages £1,488. Lerwick is the most expensive at £190,000, Brae the least at £175,000.
Across the 3 Shetland locations we cover, the average property price is £181,667 and Band D council tax averages £1,488. Lerwick is the most expensive at £190,000, Brae the least at £175,000.
Buying a home in Shetland
The county average is £181,667. Across these locations no schools hold an Outstanding Ofsted rating and no schools are rated Good. School quality is the main reason prices differ between towns a few miles apart.
A 10% deposit on the county average is £18,167. Lerwick runs 5% above that average, so the same deposit reaches further in Brae.
Average property price across Shetland
Later life and property wealth in Shetland
Owners aged 55 and over across Shetland sit on an average £181,667 of property value. Typical release at 65 is around £61,767, and interest compounds against the estate from day one.
Downsizing within the county is the alternative most people skip. It costs fees and stamp duty but carries no compounding interest. Both routes are compared in the town guides below.
Retirement costs across Shetland
Band D council tax averages £1,488 across these locations. That is £124 a month before anything else. Authorities set their own rate, so the bill can change with a short move.
Housing is the fixed line in any retirement budget. Each town guide converts the local figure into the pot needed to cover it at a 4% withdrawal rate.
Towns at a glance
| Town | Average price | Band D | Good or better schools | Guides |
|---|---|---|---|---|
| Lerwick | £190,000 | £1,488 | 0 | Mortgage, Equity release, Pensions |
| Scalloway | £180,000 | £1,488 | 0 | Mortgage, Equity release, Pensions |
| Brae | £175,000 | £1,488 | 0 | Mortgage, Equity release, Pensions |
Compare towns directly
Side by side on price, deposit, schools and running costs.
Ask about Brae
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Guides across Shetland
- Brae: School Catchments and House Prices in Brae, The Real Cost of Buying a First Home in Brae, Downsizing in Brae: What You Would Actually Release, Council Tax in Brae: What Band D Really Costs
- Lerwick: School Catchments and House Prices in Lerwick, The Real Cost of Buying a First Home in Lerwick, Downsizing in Lerwick: What You Would Actually Release
- Scalloway: School Catchments and House Prices in Scalloway, The Real Cost of Buying a First Home in Scalloway, Downsizing in Scalloway: What You Would Actually Release
Check broadband before you make an offer in Shetland
Broadband speeds can vary street by street in Shetland, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
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Questions people ask
Where are house prices highest in Shetland?
How much is council tax in Shetland?
Does That's Family Finance cover the whole of Shetland?
How do I check broadband speed at a property in Shetland?
Your home may be repossessed if you do not keep up repayments on your mortgage.