House prices in Scotland rose again in October on a year on year comparison, according to the latest official figures reported by Registers of Scotland. The average sale price rose by 4.4% compared with October 2017 to £151,508, though this was down by 0.3% compared to the previous month.
This compares to a UK average of £231,095, up 2.7% on October 2017 but down 0.2% compared with September.
Sales volume in Scotland in August 2018, the latest month released, was 10,400 – an increase of 9.3% on August 2017, subject to more transactions being incorporated into the index, which on previous adjustments could push the rise to as much as 12% in Scotland, compared with 5.1% in England, 7.3% in Wales and 4.9% in Northern Ireland (over quarter 3 of 2018).
Price growth was recorded in 27 of Scotland's 32 local authority areas. The biggest increases were in Glasgow City (9.3%), East Dunbartonshire (8.0%) and North Lanarkshire (7.8%). At the other end of the scale Aberdeen City recordded a drop of 6.0% and East Ayrshire one of 3.3%.
Sales volumes in August rose in 26 local authoriry areas, led by East Dunbartonshire (29.3%), North Lanarkshire (25.8%) and Falkirk (25.5%), while the biggest decreases were seen in City of Edinburgh (10.2%) and Perth & Kinross (9.8%).
Registers of Scotland Business Development and Information Director Kenny Crawford commented: “Average prices have been increasing each month since March 2016, when compared with the same month of the previous year.
“Residential sales volumes increased in August by 9.3% when compared with August 2017 in Scotland. The cumulative volume of sales for Scotland for the financial year to date – from April 2018 to August 2018 – was 45,281. This is a decrease of 1.6% on the equivalent year to date position in the previous financial year 2017-18.”