House prices continued to surge in June: RoS figures
House prices across Scotland continued to surge in June 2022, according to the latest provisional statistics from the UK House Price Index released by Registers of Scotland.
The average price reached £192,249, an increase of 11.6% on June 2021 and of 2.2% compared with May 2022.
The UK average rose by 1.0% on the previous month, and 7.8% year on year, to £286,397.
All 32 local authority areas recorded an annual increase. The largest mainland increase was in East Ayrshire at 22.4%, followed by Argyll & Bute (19.0%), Clackmannanshire (18.8%) and East Renfrewshire (18.6%). The smallest increase was recorded in City of Aberdeen at 2.1%, followed by Inverclyde (2.4%). No other area saw an increase below 9%, the figure for the City of Edinburgh.
Detached properties continued to show the biggest rise, up by 17.2% over the year, while flats showed the smallest increase at 7.4%.
The volume of residential sales in Scotland in April 2022 is provisionally estimated at 8,482, up 21.1% on the original provisional estimate for April 2021. This compares with a decrease of 1.9% in England and an increase of 9.6% in Wales.
Kenny Crawford, Registers of Scotland business development director, commented: "Average prices for property in Scotland continued to rise in June 2022 and have increased in every month since July 2020 when comparing with the previous year. The annual increase has been in excess of 5% in every month since October 2020. In comparison, in the 12 months to October 2020, the annual increase only exceeded 3% on one occasion.
"Transaction volumes appear to be stabilising. If we compare the growth in transactions over the one year period to December 2021 against the previous year, transactions rose by 28.1%. More recent data outlines that transactions over the one year period to April 2022 against the year prior increased by a more modest 8.1%."