Monthly UK House Price Index figures released for March 2019.

Three key figures for March:

-£149,461 The average price of a property in Scotland

-3.3% The annual price change of a property in Scotland

-1.9% 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 March 2019 was £149,461 – an increase of 3.3 per cent on March in the previous year.

Comparing with the previous month, house prices in Scotland rose by 1.9 per cent between February 2019 and March 2019.

The UK average house price was £226,798, which was an increase of 1.4 per cent on March in the previous year and a decrease of 0.2 per cent on the previous month.

The volume of residential sales in Scotland in January 2019 was 6,516 – an increase of 10.3 per cent on the original provisional estimate for January 2018. This compares with decreases of 1.7 per cent in England and 6.0 per cent in Northern Ireland (Quarter 1 – 2019), and an increase of 0.6 per cent in Wales.

Commenting on the release, Business Development director Kenny Crawford said:

Average prices in Scotland continued their upward trend in March, having increased each month since April 2016, when compared with the same month of the previous year.

Average price increases were recorded in the majority (21) of local authorities, when comparing prices with the previous year.

The biggest price increases were in Midlothian and Perth and Kinross where average prices increased by 12.2 per cent to £193,728 and 11.6 per cent to £193,849 respectively.

The largest decreases were recorded in Aberdeen City and Aberdeenshire, where average prices fell by 7.0 per cent to £148,236 and 6.1 per cent to £179,215 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.