Scots house prices stay firm in latest figures
House prices in Scotland continued to defy predictions of a fall, with an 2.5% year-on-year increase across the country in September, according to the latest UK house price index figures released by Registers of Scotland.
The average price of £195,000 was slightly down (0.2%) on the previous month, but seasonally adjusted the figure grew by the same amount. The data are provisional and reflect transactions that took place up to the end of September.
Across the UK, the average price was down 0.1% year on year to £291,000, and down on the previous month by 0.5% on both a seasonally adjusted and a non-seasonally adjusted basis.
Annual increases were recorded in 18 out of 32 local authority areas. The largest mainland increase was in East Lothian (15.2%), followed by Clackmannanshire (6.9%), City of Glasgow and Falkirk (both 4.3%). The largest mainland decrease was recorded in North Ayrshire (4.0%), followed by Angus and Scottish Borders (both 3.6%).
Average prices for local authority areas are based on a three-month moving average to help remove some of the volatility.
Also newly released, the volume of residential sales in Scotland in July 2023 was 8,046, a decrease of 13.9% on the original provisional estimate for July 2022.