Scottish house prices see rise but slower than rest of the UK

House prices in Scotland have risen 3.3% over the past year, but slower than the UK average.

The average price of a property in Scotland last November was £143,033, up from £138,475 in the same month of 2015, according to the UK House Price Index.

Across the UK as a whole, prices rose 6.7% over the year to an average of £217,928 in November.

However, sales in Scotland increased in September last year while falling in other parts of the UK.

There were 9,352 residential sales in Scotland last September, an increase of 8.5% on the previous year.

This compares with annual decreases in sales volumes of 22% in England, 10.4% in Wales and 10.7% in Northern Ireland in September, the last month for which figures are available.

Kenny Crawford, Registers of Scotland director of commercial services, said: “The increase of 8.5% is the first year-on-year increase in sales volumes in Scotland since March 2016, when volumes of sales increased by 45.4% when compared with the previous year.

“Changes in Land and Buildings Transaction Tax are likely to have contributed to the significant increase in March and to the subsequent lower volumes in the following months.

“Volumes in September 2016 are also 18.6% higher than in September 2014 and 26.7% higher than in September 2013.”

The highest number of sales in September last year were in Edinburgh (1,126), followed by Glasgow (1,104), Fife (634), South Lanarkshire (564), and North Lanarkshire (504).

The biggest price increase over the last year was in East Renfrewshire, where the average price rose 16.6% to £225,312.

Aberdeen saw the biggest decrease, with prices falling by 7.8% to £171,530.

Across Scotland, all property types showed an increase in average price when compared to the previous year, with semi-detached homes recording the largest rise of 4.2% to £149,735.