Latest house transaction figures continue Scottish trend

The average price of a property in Scotland in July 2018 was £152,245, 3.2% on July 2017 and up 1.4% compared to the previous month, Registers of Scotland reported today.

The figures are close to the UK increase of 3.1% year on year and 1.2% month on month. The average UK price was £231,422.

Along with the sales volume figures for May 2018, also just released, they confirm the recent Scottish trend. The sales total of 7,993 was down 6.3% on May 2017 – compared with a fall of 16.1% in England and 14.4% in Wales. Northern Ireland was dowwn 13% in quarter 2 of 2018, year on year. The cumulative sales decrease for Scotland from January to May 2018 was 9.2% on the equivalent period in 2017.

Average price increases were recorded in 29 of the 32 Scottish local authority areas in July 2018. The biggest increases were in West Dunbartonshire (12.7%) and West Lothian (10.8%). Decreases were recorded in City of Aberdeen (4.4%), Aberdeenshire (3.7%) and East Ayrshire (2.3%).

All property types joined in the rise in prices, with terraced properties up by 4.1% on average, semi-detached and flatted properties both up by 3.1%, and detached properties up by 2.6%.

Increases in sales volumes were recorded in eight local authorities in May 2018, led by Stirling (24.6%) and Inverclyde (7.4%), while the biggest decreases were in City of Edinburgh (21.7%) and East Ayrshire (19.5%). 

Click here to access the full figures. The UK House Price Index, of which Registers of Scotland's figures form part, has now been designated as National Statistics, meaning that it has been independently assessed and meets the highest statistical standards.