House price index, Scotland, August 2020

THE average price of a property in Scotland in August 2020 was £155,191, an increase of 0.6 per cent on 12 months previously – according to latest provisional statistics from the UK House Price Index.

Comparing with the previous month, house prices in Scotland increased by 0.4 per cent between July 2020 and August 2020.

The UK average house price was £239,196 which was an increase of 2.5 per cent on August 2019 and an increase of 0.7 per cent on the previous month.

The volume of residential sales in Scotland in June 2020 was 3,789, a decrease of 58.0 per cent on the original provisional estimate for June 2019. 

This compares with a decrease of 34.7 per cent in England, 51.2 per cent in Wales, and 68.3 per cent in Northern Ireland (quarter 2 – 2020 compared with same quarter in the previous year).

In Scotland, semi-detached properties showed the largest increase, rising by 2.7 per cent in the year to August 2020 to £165,019. Flatted properties, meanwhile, showed a decrease, falling by 1.6 per cent in the year to August 2020 to £109,939.

Average price increases were recorded in the majority (18) of local authorities, when comparing prices with the previous year. The largest increase was in Clackmannanshire where the average price increased by 6.2 per cent to £135,443. The largest decrease was recorded in Inverclyde, where the average price fell by 11.2 per cent to £94,510.

Source: Registers of Scotland, October 21 2020, here.

Picture credit: Place Design Scotland

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