25 May 2022

The average price of a home in Scotland continues to move ahead

The average price of a home in Scotland continues to move ahead

The average price of a home in Scotland continues to move ahead - and now costs more than £181,000.

Latest figures from Registers of Scotland (RoS) show that the typical property changed hands for £181,415 in March - a year-on-year increase of 8%.

RoS business development director Kenny Crawford said:

"Average prices have increased in every month since July 2020 when comparing with the previous year, and the annual increase has been in excess of 5% in every month since October 2020.

"In comparison, in the 12 months to October 2020, the annual increase only exceeded 3% on one occasion. "Over the year as a whole from February 2021 to the end of January 2022, the number of transactions remained high - 26.2% higher than the previous year which was affected by Covid-19 measures, and 9.6% higher than from February 2019 to January 2020."

The UK average house price is now £278,436 - up 9.8% on March 2021. RoS added that the number of residential sales in Scotland in January 2022 was 7,181 - a decrease of 5% on January 2021.

Detached properties showed the biggest increase out of all property types north of the border - rising by a typical 13.3% to £331,685 % in the year to March 2022. Flats recorded the smallest jump - by only 3.7% to £122,324.

Average price increases were recorded in all 32 local authorities in Scotland. Top of the table was Falkirk where prices soared by a typical 19.2% to £161,602.

The smallest increase of just 0.1% to £142,804 was recorded in Aberdeen.

The highest-priced location was Edinburgh at £322,855.

In contrast, the cheapest was Inverclyde at £115,536.

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