The latest provisional statistics from the UK House Price Index (HPI) show that the average price of a property in Scotland in September 2023 was £195,000. Comparing with the previous month, prices decreased by 0.2 per cent on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was an increase was 0.2 per cent.

The UK average house price was £291,000 which was an annual decrease of 0.1 per cent on September 2022. Comparing with the previous month, UK house prices decreased by 0.5 per cent on both a seasonally adjusted and a non-seasonally adjusted basis.

The volume of residential sales in Scotland in July 2023 was 8,046, a decrease of 13.9 per cent on the original provisional estimate for July 2022.

Commenting on the house price figures in Scotland, a Registers of Scotland spokesperson said: “There was an increase of 2.5 per cent (to £195,000) in the average house price for Scotland in the 12 months to September 2023. This compares to a decrease of 0.1 per cent in average house prices for the UK as a whole.”

In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 5.2 per cent in the 12 months to September 2023 to £358,000. Terraced houses showed the lowest annual percentage change, increasing by 0.8 per cent in the 12 months to September 2023 to £164,000.

Average prices for local authorities are based on a 3-month moving average to help remove some of the volatility in the series. Increases were recorded in 18 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 15.2 per cent to £348,000. The largest decrease was recorded in North Ayrshire, where the average price decreased by 4.0 per cent to £127,000.

In September 2023, the highest-priced area to purchase a property was East Lothian, where the average price was £348,000. In contrast, the lowest-priced area to purchase a property was North Ayrshire, where the average price was £127,000.