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  4. December house prices show steady annual growth

December house prices show steady annual growth

15th February 2023 | property (non-commercial)

The average house price in Scotland in December 2022 was £187,224, an increase of 5.7% on December 2021, according to the latest provisional statistics from the UK House Price Index released by Registers of Scotland.

The figure shows a decrease of 2.9% between November 2022 and December 2022, but the year-on-year average rise edged up from 5.5%.

Across the UK, the average price was £294,329, up 9.8% on December 2021 and a decrease of 0.4% on the previous month.

Average year-on-year price increases were recorded in 31 out of 32 local authority areas. The largest mainland increase was in Midlothian (12.5%), followed by Falkirk (11.5%) and Dumfries & Galloway (11.2%). The only decrease (4.0%) was in City of Aberdeen; the lowest rises were in North Ayrshire (1.2%) and East Dunbartonshire (2.3%).

The volume of residential sales in Scotland in October 2022 was 8,945, down 12.5% on the original provisional estimate for October 2021.

Kenny Crawford, Registers of Scotland business development director, said transaction volumes over the first 10 months of 2022 appeared to be at levels similar to the first 10 months of the pre-pandemic period of 2019.

View the full report.

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