Scottish house prices continue to climb

According to the latest provisional statistics from the UK House Price Index released by Registers of Scotland, Scotland’s property prices continued to soar in June 2022 . 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 within Scotland 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%). to £125,911. 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.

Whether you are buying or selling, no matter what your budget or where in Scotland your property is, our conveyancing team will be happy to assist – just give us a call on 0141 248 3456, or drop us an email to legal@raesidechisholm.co.uk