Comparing with the previous month, house prices in Scotland increased by 0.3 per cent on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was a decrease of 0.2 per cent.

The UK average house price was £285,000, an annual increase of 2.2 per cent on May 2023. Comparing with the previous month, UK house prices increased by 1.2 per cent on a non-seasonally adjusted basis and increased by 0.6 per cent on a seasonally adjusted basis.

The volume of residential sales in Scotland in March 2024 was 7,665. When compared with the first published figures for March 2023 this was an annual decrease of 4.1 per cent.

Commenting on the house price figures in Scotland, a Registers of Scotland spokesperson said: “There was an increase of 2.5 per cent (to £191,000) in the average house price for Scotland in the 12 months to May 2024. This compares to an increase of 2.2 per cent (to £285,000) in average house prices for the UK as a whole.”