House prices continue to rise in Scotland but sales suffer big fall
The latest provisional statistics from the UK House Price Index (HPI) show that the average price of a property in Scotland in August 2019 was £154,549 – an increase of 1.6 per cent on the same month the previous year.
House prices in Scotland rose by 0.3 per cent between July and August.
The UK average house price was £234,853, which was a rise of 1.3 per cent on August in the previous year and an increase of 0.8 per cent on the previous month.
The volume of residential sales in Scotland in June 2019 was 9,020, a decrease of 13.4 per cent on the original provisional estimate for June 2018.
This compares with a fall of 5.8 per cent in England, 4.5 per cent in Wales and 1.8 per cent in Northern Ireland.
Accountable Officer Janet Egdell said: "The latest UK HPI data suggests there has been a marked reduction in the number of residential property sales in Scotland in June 2019, contrasting with an overall rise in transactions over the first six months of 2019.
"The volume of residential sales decreased 13.4 per cent on the original provisional estimate for June 2018, whilst from January to June 2019 there was an overall increase of 2.6 per cent compared with the same period in 2018.
"It should be noted that these are provisional figures which are likely to change as more transactions are incorporated into the index."
In Scotland, detached houses showed the largest hike, rising by 2.6 per cent in the year to August 2019 to £267,167.
Flats and maisonettes showed the smallest increase, rising by 0.6 per cent to £110,958.
The largest increase was in East Dunbartonshire, where the average price increased by 4.7 per cent to £223,564.
The largest decrease was recorded in City of Aberdeen, where the average price fell by 8.3 per cent to £146,141.
The highest-priced area to purchase a property was City of Edinburgh, where the average price was £265,894. In contrast, the lowest-priced area to purchase a property was East Ayrshire, where the average price was £100,507.
