Scottish house prices up 9.9 per cent in a year

On a non-seasonally adjusted basis, average house prices in Scotland increased by 0.6 per cent between June and July 2022, compared with an increase of 1.9 per cent during the same period a year earlier (June 2021 and July 2021). On a seasonally adjusted basis, average house prices in Scotland increased by 0.3 per cent between June and July 2022.

Comparing the provisional volume estimate for May 2021 with the provisional estimate for May 2022, the volume of transactions decreased by 0.6 per cent in Scotland. The UK volume of transactions increased by 34.5 per cent over the same period.

In Scotland, terraced houses showed the largest increase out of all property types, rising by 11.0 per cent in the year to July 2022 to £164,000. The lowest annual change of all property types was in flats and maisonettes, which increased by 8.0 per cent in the year to July 2022 to £132,000.

The largest growth was in East Ayrshire, where prices increased by 19.8 per cent in the year to July 2022 to £129,000. The lowest annual growth for the year to July 2022 was in City of Aberdeen where average prices increased over the year by 0.8 per cent to £149,000.

As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.