House price growth still strong in October: latest data

Average house prices across Scotland were 11.3% higher in October than in October 2020, according to the latest provisional figures from the UK House Price Index released by Registers of Scotland.

The figure for the whole country was £181,391, compared with £163,019 12 months previously. There was also a 0.4% gain on September 2021 (when prices dipped by the same percentage from the previous month).

Detached properties showed the biggest increase, rising by 15.9% to an average of £325,402, while flats showed the smallest increase at 8.1% to average £125,604.

The UK average house price rose by 10.2% over the year to £268,349. It was down 1.1% on the previous month.

Average increases year on year were recorded in all 32 local authority areas. The largest increase was in Midlothian (20.3%), followed by Clackmannanshire (19.5%) and Stirling (18.0%). The lowest mainland increase was in Angus (6.5%), followed by Aberdeenshire (9.1%) and City of Aberdeen (9.2%).

Initial estimated sales figures for August 2021 show the volume of residential sales as 9,743, up by 45.7% on the original provisional estimate for August 2020.

Registers of Scotland business development director Kenny Crawford commented: "The average price of a property in Scotland in September, at £181,391, remains one of the highest reported for any month since January 2004, from when Scottish data for the UK HPI was first available.

"Over the year as a whole from September 2020 to the end of August 2021, the number of transactions has picked up following the reductions caused by COVID-19 measures and cumulatively is now 56% higher than the previous year. Figures in the current year to date are also 20% higher than pre-COVID figures from September 2018 to August 2019."

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