September figures show slowing of house price growth
The average selling price of a residential property in Scotland in September was £191,941, up 7.3% over the previous 12 months and down 0.9% on the figure for August, according to provisional estimates from the UK House Price Index released by Registers of Scotland.
Across the UK, the average price was £294,559, 9.5% higher than in September 2021 and unchanged on the previous month.
Average price increases were recorded in 31 out of the 32 local authority areas, when comparing prices with the previous year. The largest mainland increase (25.0%) was in Argyll & Bute, followed by West Lothian (15.7%) and Dumfries & Galloway (12.9%). The only decrease was recorded in the City of Aberdeen, where prices were 2.4% lower on average over the year. Aberdeenshire prices rose by 1.9%, and the next lowest was Clackmannanshire at 4.3%.
Detached properties again showed the biggest increase, rising by 9.8% over the year to September, while flatted properties showed the smallest increase at 4.4%.
The volume of residential sales in Scotland in July 2022 is provisionally estimated at 9,349, a decrease of 12.4% on the original provisional estimate for July 2021.
Janet Egdell, Registers of Scotland accountable officer commented: "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 at levels similar to the pre-pandemic period. Although transactions are down compared to 2021, the number of transactions over the first seven months of 2022 are very similar to the first seven months of 2019."