According to the latest figures from the UK House Price Index, as reported by the Registers of Scotland, Scottish house price growth has continued in July.
The average price of a property in Scotland in July 2021 was £177,166.00. Not only was this an increase of 2% on June’s prices, but is an increase of 14.6% on the figures from July 2020. This is the highest reported increase for any month since January 2004, from when Scottish data for the UK House Price Index was first available.
Average year on year price increases were recorded in all 32 Local Authority areas ranging from 4.9% in Stirling and 5.7% in the city of Aberdeen, to 21.5% in the Scottish Borders and 29% in Inverclyde. In Orkney and Shetland, where a small number of transactions can distort figures more, there were increases of 37.2% and 41.7% respectively.
There were registered residential sales in Scotland in May 2021 of 8,379 compared with 7,007 in April and 11,968 in March (before the end of the Land and Building Transaction Tax relief). To give you the best chance of purchasing your ideal home, you should contact our property experts on 0141 248 3456.