Average Scottish House Price Up 9.7% On last year
The average price of a property in Scotland in August 2022 was £195,391, an increase of 9.7% on August 2021, the latest provisional statistics from Registers of Scotland’s UK House Price Index show.
Compared with the previous month, house prices in Scotland increased by 0.2% between July 2022 and August 2022.
The UK average house price was £295,903 which was an increase of 13.6% on August 2021 and an increase of 0.9% in the previous month.
In Scotland, detached properties showed the biggest increase out of all property types, rising by 12.3% in the year to August 2022 to £349,010. Flatted properties showed the smallest increase, rising by 6.7% in the year to August 2022 to £133,666.
Average price increases were recorded in all 32 local authorities when comparing prices with the previous year. The largest increase was in Argyll and Bute where the average price increased by 25.5% to £199,940. The smallest increase was recorded in the City of Aberdeen, where the average price increased by 0.7% to £149,861.
In August 2022, the highest-priced area to purchase a property was the City of Edinburgh, where the average price was £337,506. In contrast, the lowest-priced area to purchase a property was East Ayrshire, where the average price was £129,372.
House prices in Inverclyde were eight per cent higher in August this year than they were in the same month of 2021.
New data presented in the Walker Fraser Steele chartered surveyors index shows the average price of a local property rose from £138,449 to £150,232 over that timeframe.
Month-on-month, there was a seven per cent increase from £140,399 in July 2022