The value of the Scottish residential property market increased 45% from £15.7 billion to £22.7 billion in the last 10 years, according to the latest Property Market Report published by Registers of Scotland (RoS).

The £22.7 billion of house sales in 2024-25 was an increase of 10% on 2023-24.

Over the 10 years, the median price for new builds increased by 51%, compared with 38% price growth over all residential sales.

Over the 10-year period from 2014-15 to 2024-25, the average residential property price in Scotland increased 38% from £138,000 to £190,000, while the number of houses sold increased by 7% over the same period.

Of Scotland’s eight cities, Glasgow showed the largest residential price increase over the decade at 62%. Aberdeen was the only city where the median price decreased, falling 27%. Prices of flats showed the lowest growth at 26% over the 10-year period, compared with the highest growth at 45% for semi-detached properties.

The report also looks at the non-residential market. The total market value of non-residential sales in 2024-25 was £3.7 billion. Commercial sales accounted for 82% of the total value.

An RoS spokesperson said: “The Registers of Scotland Property Market Report is an essential resource for industry professionals, journalists, policymakers, and researchers seeking in-depth insights into Scotland’s dynamic property market.

”In 2024-25 the total value of residential sales was £22.7 billion, an increase of 10% when compared with 2023-24,  and an increase of 45% when compared with 2014-15.”