Property Index Reveals Latest Scottish Property Market Statistics

UK Figures

The average UK house price was £227,000 in December 2017, which is £12,000 higher than in December 2016 and £1,000 higher than last month.

Across the different countries of the UK there was some variation in the level of house prices rises:

  • In England, they rose by 5% on average over the year, with an average price of £244,000 in December 2017
  • In Wales the average increase was 5.4%, with an average price of £154,000
  • In Scotland house prices rose by an average of 7.7%, with an average of £149,000, and
  • In Northern Ireland the average price currently stands at £130,000, an increase of 4.3% over the year to Quarter 4 (Oct to Dec) 2017.

Scottish House Prices

Looking at Scotland in more detail, the Index reveals that average price increases were recorded in 29 out of 32 local authorities in December 2017, when comparing prices with the previous year. The biggest price increases were in West Dunbartonshire and the City of Edinburgh, where average prices increased by 14.9% to £109,293 and 10.0% to £247,842 respectively. The biggest decrease was recorded in Aberdeen City where prices fell by 2.2% to £164,041.

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 flatted properties showed an increase of 4.7% to £103,841, the smallest increase of all property types.

With regards to property sales volumes, there were increases in 18 local authority areas in October 2017, when comparing volumes with the previous year. The biggest increases were in Dumfries & Galloway and Angus, where volumes rose by 33.9% to 245 sales and 27.6% to 208 sales respectively. The biggest decreases were in East Dunbartonshire and West Lothian, where volumes fell by 14.5% to 148 sales and 13.7% to 233 sales.

Registers of Scotland Comment

“Average prices in Scotland continued their upward trend in December with an increase of 7.7% when compared to December 2016,” commented Registers of Scotland Business Development and Information Director Kenny Crawford. “Average prices have been steadily increasing each month since March 2016, when compared with the same month of the previous year.”

“Residential sales volumes increased in October. The annual increase of 3.9% when compared with October 2016 in Scotland contrasts with decreases across the rest of the UK. The cumulative volume of sales for Scotland for the financial year to date – from April to October 2017 – was 63,959. This is an increase of 8.8% on the equivalent year to date position for October 2016.”

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Contains public sector information licensed under the Open Government Licence v3.0.

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