March house prices up 6.7 per cent on last year

Kenny Crawford

This compares to a UK average of £224,144, which was an increase of 4.2 per cent on March in the previous year and virtually unchanged when compared to the previous month.

The volume of residential sales in Scotland in January 2018 was 5,909 – a decrease of 7.4 per cent on January 2017. This compares with annual decreases in sales volumes of 12.0 per cent in England and 7.3 per cent in Wales in January 2018, and 12.4 per cent in Northern Ireland Quarter 1 - 2018.

Registers of Scotland business development and information director Kenny Crawford said: “Average prices in Scotland continued their upward trend in March with an increase of 6.7 per cent when compared to March 2017. Average prices have been increasing each month since March 2016, when compared with the same month of the previous year.

“Residential sales volumes decreased in January. The annual decrease of 7.4 per cent when compared with January 2017 in Scotland is in the context of large decreases across the rest of the UK. The cumulative volume of sales for Scotland for the financial year to date – from April 2017 to January 2018 – was 87,097. This is an increase of 5.7 per cent on the equivalent year to date position in the previous financial year 2016/17.”