Compared with the previous month, house prices in Scotland fell by 0.9 per cent on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was an increase of 0.2 per cent.

The UK average house price was £292,000 – which was an annual increase of 2.9 per cent on September 2023. As compared with the previous month, UK house prices decreased by 0.3 per cent on a non-seasonally adjusted basis and dropped by 0.1 per cent on a seasonally adjusted basis.

The volume of residential sales in Scotland in July 2024 was 8,624. When compared with the first published figures for July 2023 this was an annual rise of 7.2 per cent.

Commenting on the house price figures in Scotland, a RoS spokesperson said: “There was an increase of 5.7 per cent (to £198,000) in the average house price for Scotland in the 12 months to September 2024. This compares to an increase of 2.9 per cent (to £292,000) in average house prices for the UK as a whole.”

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 29 out of 32 local authority areas, when comparing prices with the previous year.

The largest increase was in East Renfrewshire where the average price increased by 10.5 per cent to £309,000. The largest decrease was recorded in Argyll and Bute, where the average price decreased by 2.3 per cent to £186,000.

In September 2024, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £347,000. In contrast, the lowest-priced areas to purchase a property were Inverclyde and East Ayrshire, where the average price was £132,000 for both.