20 Nov 2020

House prices in Scotland on the rise after busy autumn

House prices in Scotland on the rise after busy autumn

House prices in Scotland have enjoyed their biggest annual jump since 2018. 

New figures just out from the Registers of Scotland (RoS) show that the average home changed hands for £161,510 in September - up 4.3% on the same month in 2019. 

This was only slightly behind the UK rise of 4.7% to £244,513.

House prices were ahead in 22 out of the 32 local authority areas north of the border over the last year. 

The largest growth was in South Ayrshire where the average cost increased by 8.1% to £149,168.  

The most expensive council area was Edinburgh, where typical prices were ahead by 2% to £280,154. 

Glasgow also achieved a 5% increase to £144,828. 

'Busy market'

Among other areas achieving notable prices was Perth and Kinross, which is experiencing a busy market. The average cost edged ahead to £198,225. 

The cheapest place to buy a property was Inverclyde, where the typical price was £97,723 - a year-on-year drop of 7%. 

The biggest fall for the year was recorded in Aberdeen where average prices slipped by 7.9% to £135,595. 

Aberdeenshire dipped by 5.3% to £177,057. 

Semi-detached homes showed the largest increase in Scottish prices in the last year - up 5.6% to £169,522.  

Flats had the smallest jump of 2.7% to £115,847. 

All parts of the UK suffered from substantial falls in property transactions following the arrival of Covid-19. 

The number of home sales in Scotland this July was 4,982 - a decrease of 43.7% on the same month in 2019.  

This compares with a fall of 30.1% in England, 47.2% in Wales, and 68.3% in Northern Ireland. 

The UK House Price Index publication was temporarily suspended in May because of big drop in housing transactions due to government measures to reduce the spread of Coronavirus.  RoS said it would not have been possible to produce a meaningful measure of UK house price trends, but it is now back to a normal publication schedule

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