The firm, which is the largest lettings and estate agency in Scotland, said that the latest data from the monthly house price index shows that between January 2023 and December 2023 average house prices in Scotland rose increased from £182,742 to £190,341. In the rest of the UK average house prices actually fell by £740 over the same period.

Across Scotland there were substantial variations in price rises (please see table below) with East Renfrewshire recording the highest increase of £28,358; East Lothian rising by £22,318; Midlothian up £16,396; East Dunbartonshire higher by £16,180; and Edinburgh up by £13,050.

There were three falls in values last year with the largest in Dumfries and Galloway where average prices dropped by £8,354; were down £6,759 in Argyll and Bute; and fell £540 in Moray.

David Alexander, chief executive officer of DJ Alexander Scotland, commented: “The Scottish housing market has remained remarkably resilient over the last few years. An increase of £7,599 equates to a 4.2% rise last year at a time when interest rates had risen, 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 five areas having a double digit rise over the twelve months.

“The largest increases occurred in and around Edinburgh and Glasgow highlighting how popular these areas remain for buyers. People seem to be drawn back to live and work in cities again and the trend for rural and remote homebuying may be on the decline.”

He added: “Certainly, the drop in prices in Moray, Argyll and Bute, and Dumfries and Galloway would indicate this as the trend toward country life may be reversing at the moment. It was interesting to note that Aberdeen and Aberdeenshire have both experienced positive growth which must be due to the announcements of further developments in the oil and gas sector which is once again revitalising the economy in the North-East.”

“These figures are remarkably positive and indicate a housing market that remains robust and buoyant. With interest rates likely to fall, employment remaining high I believe these increases in Scottish house prices are likely to continue in the coming year.”