RoS: Scottish property market heats up as prices and sales rise

This outpaced the UK average increase of 1.1%, which saw prices reach £281,000. Month-on-month, Scottish house prices grew by 1.3%, while the UK saw a more modest 0.3% rise.

The volume of residential sales in Scotland in February 2024 was 5,479. When compared with the first published figures for February 2023 this was an annual increase of 2.1%.

Average prices for Local Authorities are based on a 3-month moving average to help remove some of the volatility in the series. Increases were recorded in 27 out of 32 local authority areas, when comparing prices with the previous year.

The largest increase was in Clackmannanshire where the average price increased by 11.6% to £171,000. The largest decrease was recorded in City of Aberdeen, where the average price decreased by 2.8% to £126,000.

In April 2024, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £328,000. In contrast, the lowest-priced area to purchase a property was Inverclyde, where the average price was £123,000.