Average house price rises to more than £148,000

The average house price in Scotland increased at the start of 2018, according to new figures.

The latest UK House Price Index found the average price of a property in Scotland stood at £148,512 in January, an increase of 7.3% on January in the previous year and 1.4% on December 2017.

The biggest price increases were in East Lothian and West Lothian, where average prices increased by 13.9% to £219,393 and 13.3% to £156,149 respectively.

The biggest decrease was recorded in Stirling, where prices fell by 0.6% to £174,982.

Registers of Scotland operations director Janet Egdell said: "Average prices in Scotland continued their upward trend in January with an increase of 7.3% when compared to January 2017.

"Average prices have been steadily increasing each month since March 2016, when compared with the same month of the previous year.

"Residential sales volumes decreased in November. The annual decrease of 1.9% when compared with November 2016 in Scotland is in the context of larger decreases across the rest of the UK.

"The cumulative volume of sales for Scotland for the financial year to date - from April to November 2017 - was 72,842. This is an increase of 7.9% on the equivalent year to date position for November 2016."

Across Scotland, all property types showed an increase in average price in January when compared with the previous year.

Detached properties showed the biggest increase, rising by 8.6% to £261,291. The average price of a flat showed an increase of 5.6% to £105,590, the smallest increase of all property types.

Read Full Story

FROM OUR PARTNERS