The average house price in Scotland experienced a surge of 0.7% in April, reaching £221,267. This figure represents a £1,600 increase from the previous month and a 1.5% rise, or £3,300, compared to the same period the previous year.

The increase in house prices has primarily been driven by high demand for higher-value homes. Notably, semi-detached properties have witnessed the most significant rise in values in half of the ten areas where house prices have increased.

Scott Jack, regional development director at Walker Fraser Steele, said:  “The impact, with the exception of Edinburgh, is that ten of the top eleven areas ranked by average house price saw prices rise, with six of these areas establishing new record average prices. Nearly all property types have performed well but, of particular note, is the fact that in half of these ten areas, it is semi-detached homes that have seen the largest rise in values.

“Of course, the choppy waters facing the UK housing market more generally mean Scotland also must brace for further interest rate rises and consequent pressures on affordability. However, given these pressures, the market on this evidence remains remarkably resilient.

“What our analysis does show is that concerns about negative equity, while the labour market remains stretched, are misplaced. People continue to buy and the lack of the right kind of housing means prices are being sustained by a lack of supply that has more impact on prices than the current affordability challenges.”