Figures show house prices firm in weeks up to lockdown

House prices in Scotland were firm in the weeks up to the COVID-19 lockdown, according to the March UK House Price Index.

However with fewer transactions than expected, due to the shutdown, the figures may be subject to increased volatility, especially in areas with fewer transactions.

The latest provisional statistics show that the average price of a property in Scotland in March 2020 was £151,856 – an increase of 1.5% on March 2019, and of 0.4% on February 2020, with increases in 21 of the 32 local authority areas.

The UK average of £231,855 was up 2.1% on March 2019 and down 0.2% on February 2020.

Volume figures for Scotland in January 2020 showed an increase of 5.3% on the original provisional estimate for January 2019. However with very few transactions now going ahead due to lockdown restrictions, publication of the monthly figures will be suspended from next month until further notice.