Scottish house prices continuing to grow faster than elsewhere

by SPC Scotland

05 April 2018

The latest data from the UK House Price Index (UKPI) has revealed that the average price of a property in Scotland has increased by 7.7% year-on-year to £148,783. This compares to a UK average rise of 5.2% to £226,756.

River Nith, Dumfries and Galloway

The volume of residential sales in Scotland in October 2017 was 8,831 – an increase of 3.9 % on October 2016 and a decrease of 6.3% on the previous month.

Biggest increases across Scotland

The biggest increases were in Dumfries and Galloway and Angus, where volumes rose by 33.9% to 245 sales and 27.6% to 208 sales respectively. Across Scotland, all property types showed an increase in average price in December 2017 when compared with the same month in the previous year. Detached properties showed the biggest increase, rising by 14.8% to £275,227. The average price of flats showed an increase of 4.7% to £103,841, the smallest increase of all property types.

Continued upward trend in average selling prices

Registers of Scotland business development and information director Kenny Crawford said: “Average prices in Scotland continued their upward trend in December with an increase of 7.7% when compared to December 2016. Prices have been steadily increasing each month since March 2016, when compared with the same month of the previous year.”

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