House prices are rising faster in Scotland than the UK average, latest figures have revealed
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The latest provisional statistics from the UK House Price Index show that the average price of a property in Scotland in November, last year, was £154,798 – an increase of 3.5 per cent on November 2018.
Comparing with the previous month, house prices in Scotland rose by 0.4 per cent between October 2019 and November 2019.
The UK average house price was £235,298 which was an increase of 2.2 per cent on November 2018 and an increase of 0.4 per cent on the previous month.
The volume of residential sales in Scotland in September 2019 was 8,628, an increase of 1.8 per cent on the original provisional estimate for September 2018.
This compares with an increase of 3.3 per cent in England, 1.3 per cent in Wales and 4.9 per cent in Northern Ireland (Quarter 3 – 2019 compared with quarter in previous year).
Accountable Officer Janet Egdell said: "Scotland’s house prices grew at a faster rate than the UK in the year to November 2019.
"While house prices in the UK rose by 2.2 per cent over the period, Scotland saw a rise of 3.5 per cent.
"However the average house price in Scotland was £154,798 whereas in England the average price stood at £251,222, in London the average was £475,458."
Prices vary across Scotland, with the highest-priced area to purchase a property being City of Edinburgh, where the average price was £277,600, and the lowest-priced area being East Ayrshire, where the average price was £95,941.
In Scotland, detached houses showed the largest increase, rising by 4.3 per cent in the year to November 2019 to £266,320.
Flats showed the smallest increase, rising by 2.6 per cent to £111,511.
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