The average property price in Scotland reached £191,000, marking a slight 0.2% rise compared to October 2022. This growth contrasts with the broader UK trend, where average house prices fell by 1.2% annually to £288,000.

Monthly comparisons reveal a 0.5% decrease in Scottish house prices on a non-seasonally adjusted basis and a 0.3% decrease after seasonal adjustment. This reduction mirrors the UK-wide monthly trend, where prices fell by 0.7% (non-seasonally adjusted) and 0.3% (seasonally adjusted).

The volume of residential sales in Scotland in August 2023 was notably lower, recording 8,265 transactions, an 11.2% decrease from August 2022.

Commenting on the house price figures in Scotland, a Registers of Scotland spokesperson said: “There was an increase of 0.2% (to £191,000) in the average house price for Scotland in the 12 months to October 2023. This compares to a decrease of 1.2% in average house prices for the UK as a whole.”

In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 2.0% in the 12 months to October 2023 to £350,000. Flats and maisonettes showed the lowest annual percentage change, decreasing by 1.8% in the 12 months to October 2023 to £128,000.

Local authority data, averaged over three months for stability, showed price increases in 19 of 32 areas. Clackmannanshire led with an 11.2% increase to £180,000, while West Lothian saw the most significant drop, with prices falling by 4.5% to £203,000.

The City of Edinburgh remained the priciest area, with average prices at £344,000, whereas East Ayrshire was the most affordable, at £128,000.