House sales, 2021-22, estimated to total £22bn

SOME £22.2bn worth of house sales are estimated to have taken place in Scotland, during the financial year 2021-22.

The calculation features in figures released by the Registers of Scotland, in its latest Property Market report, here.

And the £22.2bn is estimated on the back of 110,248 houses sales over the period, with the average price of a house in Scotland being identified at £201,744.

Says the RoS: “Since 2003-04, the start of RoS house price data, the average residential property price in Scotland has doubled.

“The total number of residential property sales increased by 16 per cent from 95,159 sales in 2020-21 to 110,248 in 2021-22. The sales volume remains 26 per cent below the peak of 149,943 sales in 2006-07.

“The value of residential property sales in the financial year 2021-22 was £22.2 billion, an increase of 20 per cent when compared with 2020-21. The residential sales market value is now close to the level peak in 2007-08 of £22.9 billion.

“The average price for a new-build residential property was £285,187 in 2021-22, an increase of 6.4 per cent compared with 2020-21. In 2021-22, 11 per cent of residential property sales in Scotland were new-builds.

“The report also looks at the non-residential market. The total market value of non-residential sales in 2021-22 was £4.3 billion. Commercial sales accounted for 77 per cent of this total, with the remainder from sales of forestry, agriculture and land.”

Picture credit: Place Design Scotland