August house price average still firm: RoS figures
The average price of a property in Scotland in August 2023 was £194,000, an increase of 1.1% compared with August 2022, according to the latest provisional figures from the UK house price index released by Registers of Scotland.
Comparing with the previous month, house prices in Scotland increased by 1.2% on a non-seasonally adjusted basis, and by 0.9% when seasonally adjusted.
The UK average house price was £291,000, just 0.2% up on August 2022, and up by 0.3% from July 2023 on a non-seasonally adjusted basis, or 0.2% when seasonally adjusted.
Increases were recorded in 14 out of 32 Scottish local authority areas, when comparing prices with the previous year. The largest mainland increase was in East Lothian (15.4%), followed by Fife (5.4%) and Moray (3.9%). The largest decrease was recorded in East Renfrewshire (4.8%), followed by City of Aberdeen (4.6%) and West Dunbartonshire (4.2%). Average prices for local areas are based on a three month moving average to remove some of the volatility.
The release also shows the volume of residential sales in Scotland in June 2023 as 9,217, an increase of 8.7% on the original provisional estimate for June 2022.
A RoS spokesperson commented: "Since January 2023, annual house price inflation in Scotland has typically remained less than 2%."