The Scottish lettings and estate agency said that the latest data from the monthly house price index shows that between February 2023 and January 2024 average house prices in Scotland increased from £177,949 to £190,328. In the rest of the UK average house prices rose by just £439 over the same period while in England they actually fell by £2,760.

Across Scotland there were substantial variations in price rises with East Lothian recording the highest increase of £27,071; Edinburgh rising by £19,844; East Dunbartonshire higher by £19,099; Midlothian up £16,222; and East Renfrewshire increasing by £14,637.

There were two falls in value over the last 12 months last year with the largest in Argyll and Bute where average prices dropped by £10,519 while prices were down £623 in Dumfries and Galloway.

David Alexander, CEO of DJ Alexander Scotland, said: “The Scottish housing market has remained remarkably resilient over the last few years. An increase of £12,379 equates to a 6.9% rise over the last 12 months at a time when interest rates were high, utility bills were soaring, and there were concerns over the sluggish performance of the economy.”

“Despite all of these factors almost every part of Scotland recorded an increase in average prices with nine areas having a rise of £10,000 or more over the last twelve months.”

He continued: “These large increases have occurred in a wide range of areas both around Edinburgh and Glasgow but also a substantial rise in Dundee and strong growth in Aberdeen.

“Buyers seem to be keen to live in, or within easy travelling distance to, our major cities and there are some signs that the trend for rural and remote homebuying may be on the decline.”

“Certainly, the drop in prices in Argyll and Bute and Dumfries and Galloway would indicate this and the trend toward country life may be reversing at the moment.”

Mr Alexander concluded: “These figures point to a very positive and dynamic housing market that is experiencing continued price growth. Given that interest rates are likely to fall in the coming months and with employment rates remaining high it is likely that increases in Scottish house prices will continue in the coming year.”