fbpx

News & Blog

Read the latest business news, blogs and thought leadership articles from our members, as well as updates on the Edinburgh Chamber of Commerce's work in the city.

News & Blog

House prices in Scotland up by 1.6%

Posted: 19th June 2019

Monthly UK House Price Index figures released for April 2019.

Three key figures for April:

  • £150,825
    The average price of a property in Scotland
  • 1.6%
    The annual price change of a property in Scotland
  • 0.7%
    The monthly price change of a property in Scotland

The latest statistics from the UK House Price Index (HPI) show that the average price of a property in Scotland in April 2019 was £150,825 – an increase of 1.6 per cent on April in the previous year.

Comparing with the previous month, house prices in Scotland rose by 0.7 per cent between March 2019 and April 2019.

The UK average house price was £228,903, which was an increase of 1.4 per cent on April in the previous year and an increase of 0.7 per cent on the previous month.

The volume of residential sales in Scotland in February 2019 was 5,387 – an increase of 1.9 per cent on the original provisional estimate for February 2018. This compares with increase of 1.7 per cent in England and 1.4 per cent in Wales and a decrease of 6.0 per cent in Northern Ireland (Quarter 1 – 2019).

Commenting on the release, Accountable Officer Janet Egdell said:

Average prices in Scotland continued their upward trend in April, having increased each month since April 2016, when compared with the same month of the previous year. A long-term view of the Scottish property market can also be found in our recently published Property Market Report.

Average price increases were recorded in the majority (24) of local authorities, when comparing prices with the previous year. The biggest price increases were in Stirling and North Ayrshire where average prices increased by 8.4 per cent to £191,654 and 7.7 per cent to £107,008 respectively.

The largest decreases were recorded in Aberdeen City and Aberdeenshire, where average prices fell by 6.2 per cent to £150,173 and 5.6 per cent to £178,580 respectively. Local authority estimates are based on a three month moving average to reduce volatility.

Further information on HPI Scotland by local authority, property type, first time buyers and cash sales can be found in the latest HPI Scotland publication.

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
Read more here