Scottish house prices up 8.6% in past year

The Registers of Scotland said on Wednesday the average price of a residential property in Scotland in November 2020 was £165,703, an increase of 8.6% on November 2019.

House prices in Scotland increased 0.9 % between October 2020 and November 2020.

The UK average house price was £249,633, an increase of 7.6% on November 2019, and an increase of 1.2% on the previous month.

The figures are contained in the latest UK House Price Index Scotland report.

The volume of residential sales in Scotland in September 2020 was 10,168, an increase of 17.8% on the original provisional estimate for September 2019.

Registers of Scotland Accountable Officer Janet Egdell said: “The volume of transactions in September 2020 was high, catching up on some of the reduction in activity in the market in the previous months.”

Terraced properties in Scotland showed the largest price increase, rising 10% in the year to November 2020 to £139,874.

Flats showed the smallest increase, rising 6.8% in the year to September 2020 to £117,109.

Average price increases were recorded in the majority (31) of local authorities.

The largest percentage increase was in East Ayrshire where the average price increased 15.6% to £110,073.

However, East Ayrshire was the lowest-priced area to purchase a property.

The only decrease was recorded in Aberdeen City, where the average price fell by 3.4 % to £140,629.

In November 2020, the highest-priced area to buy a home was City of Edinburgh, where the average price was £287,239.