Scots annual house price growth reaches 12% in June
House prices in Scotland continued their rapid climb in June 2021, rising an average of 2.4% compared with May and 12.0% since June 2020, according to the latest provisional statistics from the UK house price index reported by Registers of Scotland. The average price now stands at £173,961.
The UK average price was £265,688, up by 13.2% on June 2020 and 4.5% on the previous month. The stamp duty holiday south of the border came to an end in June.
Average price increases were recorded in 31 out of 32 the Scottish local authority areas, when compared with the previous year. The largest mainland increase (22.0%) was in East Renfrewshire, followed by Inverclyde (18.6%), East Dunbartonshire (15.9%) and Inverclyde (15.8%). In the island areas, where prices can be more volatile due to the small number of transactions, the average price rose in Shetland by 51.5% and in Orkney by 33.7%, but fell by 5.5% in Na h-Eileanan Siar, the only area to show a decrease. The smallest increase (1.8%) was recorded in Angus, followed by City of Aberdeen at 2.8%. The 7.9% increase in the City of Edinburgh was enough to take the average price over the £300,000 mark (£302,936), keeping it the most expensive area in Scotland. In East Ayrshire, the lowest-priced area, the average price was £103,630.
Provisional figures also show the volume of residential sales in Scotland in April 2021 as 7,007, down from March's record for recent years of 11,968 (also affected by the ending of a tax break), but three times the level of April 2020 when many transactions were hit by the first coronavirus lockdown.
Accountable officer Janet Egdell commented: "Prices continue their trend upwards in June, and the number of transactions has reverted to a more normal pattern in the first couple of months of this financial year. Over the year as a whole from May 2020 to end of April 2021, volumes have picked up and cumulatively are now 4% higher than the previous year."
Click here for the full statistical report.