Scots house prices up 9%; Edinburgh most expensive

Edinburgh's Princes Street

House prices across Scotland rose 8.8% on average over the last year, more than the UK average of 6.2%, according to the latest data from Bank of Scotland.

The average Scottish home now costs £207,778, an increase of £16,761 on 2020’s figure of £191,017.

The most expensive place to buy in Scotland remains Edinburgh, which now has an average house price of £293,406, up £19,160 or 7.% on last year. 

In percentage terms, Motherwell was Scotland’s 2021 house price winner, with a rise of 17.3%.

Motherwell also saw the largest increase in cash terms at £26,103, rising from £151,105 to £177,118. 

The town was one of two in Scotland to be amongst the UK’s 20 biggest house price increases.

With Motherwell ranking 7th in the UK overall, the other entrant was Hamilton at number 20.

Hamilton’s average house price rose by 13.7% in the last 12 months, with the typical home now costing £159,176, an increase of £19,225.

Many towns within easy reach of the key cities experienced some of the biggest rises, with both Paisley and Livingston outperforming their more metropolitan neighbours.

Graham Blair, Mortgages Director, Bank of Scotland, said: “Scottish house prices have enjoyed another bumper year, with growth outperforming the UK average and properties in almost every town now worth more than 12 months ago.

“The feedback we’re getting from customers matches what we see in the data.

“Prolonged working from home has influenced where people want to live and the type of property they want to own.

“So while our major cities continue to be attractive, with commuting now less of a priority, areas that offer more space and better affordability have experienced increasing demand from buyers.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.