House prices, Scotland, March

THE average price of a house in Scotland during the month of March was £181,415 – some eight per cent up on the same month the previous year.

Says the Registers of Scotland (RoS), £181,415 represents a 0.05 per cent decrease on the previous month, February 2022.

The RoS adds that UK average house price was £278,436, which was an increase of 9.8 per cent on March last year and an increase of 0.3 per cent on the previous month.

Says RoS, here: “The volume of residential sales in Scotland in January 2022 was 7,181, a decrease of five per cent on the original provisional estimate for January 2021 and an increase of 4.7 per cent on January 2020. 

“This compares with decreases of 42.6 per cent in England and 29.9 per cent in Wales to January 2022, whilst sales volumes decreased by 19.3 per cent in Northern Ireland when analysing Quarter 1 – 2022 relative to the same quarter in the previous year.”

It goes on to say: “In Scotland, detached properties showed the biggest increase out of all property types, rising by 13.3 per cent in the year to March 2022 to £331,685. Flatted properties showed the smallest increase, rising by 3.7 per cent in the year to March 2022 to £122,324.

“Average price increases were recorded in all 32 local authorities, when comparing prices with the previous year. The largest increase was in Falkirk where the average price increased by 19.2 per cent to £161,602. The smallest increase was recorded in City of Aberdeen, where the average price increased by 0.1 per cent to £142,804.”

Picture credit: Place Design Scotland