House prices in Scotland up by 1.6 per cent

Comparing with the previous month, house prices in Scotland rose by 0.7 per cent between March 2019 and April 2019.

The UK average house price was £228,903, which was an increase of 1.4 per cent on April in the previous year and an increase of 0.7 per cent on the previous month.

The volume of residential sales in Scotland in February 2019 was 5,387 – an increase of 1.9 per cent on the original provisional estimate for February 2018.

This compares with increase of 1.7 per cent in England and 1.4 per cent in Wales and a decrease of 6.0 per cent in Northern Ireland (Quarter 1 – 2019).

Registers of Scotland accountable officer Janet Egdell said: “Average prices in Scotland continued their upward trend in April, having increased each month since April 2016, when compared with the same month of the previous year. A long-term view of the Scottish property market can also be found in our recently published Property Market Report.

“Average price increases were recorded in the majority (24) of local authorities, when comparing prices with the previous year. The biggest price increases were in Stirling and North Ayrshire where average prices increased by 8.4 per cent to £191,654 and 7.7 per cent to £107,008 respectively.

The largest decreases were recorded in Aberdeen City and Aberdeenshire, where average prices fell by 6.2 per cent to £150,173 and 5.6 per cent to £178,580 respectively. Local authority estimates are based on a three month moving average to reduce volatility.

Further information on HPI Scotland by local authority, property type, first time buyers and cash sales can be found in the latest HPI Scotland publication.