House prices, Scotland, May 2023

THE average price of a house in Scotland during the month of May was £193,000 – 3.2 per cent up on the same month last year.

Says the Registers of Scotland (RoS), £193,000 represents a three per cent increase on the previous month, April, this year.

The RoS adds that UK average house price was £286,000 which was an increase of 1.9 per cent on May last year and no change on the previous month.

Says RoS, here: “The volume of residential sales in Scotland in March 2023 was 7,992, a decrease of 0.6 per cent on the original provisional estimate for March 2022.

“In Scotland, all property types showed an increase in average price when compared to April 2022. Semi-detached properties showed the biggest increase out of all property types, rising by 3.3 per cent in the year to April 2023, to £200,959. Terraced houses showed the lowest annual percentage change, increasing by 1.2 per cent in the year to April 2023, to £157,036.

“Average prices for local authorities are based on a three-month moving average to help remove some of the volatility in the series. Increases were recorded in 24 out of 32 local authority areas, when comparing prices with the previous year. The largest increase was in East Lothian where the average price increased by 17.2 per cent to £333,715. The largest decrease was recorded in City of Aberdeen, where the average price decreased by seven per cent to £133,954.”

Picture credit: Place Design Scotland

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