11 Aug 2022

The average price of a home in Scotland keeps soaring, new figures show

The average price of a home in Scotland keeps soaring, new figures show

The average price of a home in Scotland keeps soaring, new figures show. 

Registers of Scotland (RoS) says the typical property changed hands for £187,954 in April - a year-on-year increase of 16.2%.

The value of homes also jumped by 3% in April compared to the previous month.

Janet Egdell, the RoS accountable officer, said:

"Average prices for property in Scotland keep on rising and have increased in every month since July 2020 when comparing with the previous year.
"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 from March 2021 to the end of February 2022, the number of transactions remained high - 23.3% higher than the previous year which was affected by Covid-19 measures, and 8.3% higher than the year before from March 2019 to February 2020."

Detached homes enjoyed the biggest average increase out of all property types in the year to April 2022 - by 22.5% to £346,753.

Flats experienced the smallest jump in that period - by 10.4% to £126,446.

Year-on-year price rises were recorded in 31 out of Scotland's 32 local authorities.

Leading the way was the Scottish Borders (+22.9% to £203,485), while the smallest increase was in Inverclyde (+3.6% to £111,462).

There was more evidence of the recent recovery in the north-east property market following last decade’s downturn in the oil industry.

Aberdeen prices were ahead by a typical 5.9% to £147,562, while Aberdeenshire fared even better - up 10.4% to £204,087.

The only local authority to suffer from a fall in prices was Shetland (-0.6% to £187,939).

The most expensive location to purchase a property in April was Edinburgh at £324,947, while the cheapest was Inverclyde at £111,462. 

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