09
Jul
2019

Home prices in Scotland rise 24 months in a row

Property prices in Scotland have risen for 24 months in a row in April, according to official data from the Register of Scotland.

The average home now costs £150,825 - up 1.6 per cent in the past year and 0.7 per cent from March.

This compares with a UK average house price of £228,903, which reflected a 1.4 per cent year on year rise.

The number of homes exchanging hands was also up in Scotland - to 5,387, which was a 1.9 per cent increase from the previous April.

Accountable Officer at the registry Janet Egdell said: “Average prices in Scotland continued their upward trend in April, having increased each month since April 2016, when compared with the same month of the previous year.”

Average annual price increases were recorded by 24 council

The biggest increases were in Stirling, where average prices increased by 8.4 per cent to £191,654, and North Ayrshire, up 7.7 per cent to £107,008.

The largest decreases were in Aberdeen City, where average prices fell by 6.2 per cent to £150,173, and Aberdeenshire where prices dropped 5.6 per cent to £178,580.

In a separate report, the Office for National Statistics revealed private tenants in Scotland saw their rents increase by 0.8 per cent in the 12 months to May 2019, up from 0.7 per cent in April 2019.

Rent growth in Scotland has lagged behind the rest of the country for the past three years.

“The weaker growth in Scotland since 2016 may be due to stronger supply and weaker demand in Scotland,” said a spokesman.

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