In comparison, the UK average house price experienced a more modest annual increase of 2.8 per cent – reaching £293,000.

Compared with the previous month, house prices in Scotland increased by 1.2 per cent on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was an increase of 0.8 per cent.

The volume of residential sales in Scotland in June 2024 was 8,493 – an annual decrease of 7.9 per cent.

A Registers of Scotland spokesperson said: “The average house price for Scotland has reached £200,000 for the first time. This represents an increase of 5.4 per cent in the 12 months to August 2024. This compares to an increase of 2.8 per cent (to £293,000) in average house prices for the UK as a whole.”

The largest local authority increase was in East Renfrewshire where the average price increased by 11.2 per cent to £306,000. The largest decrease was recorded in Argyll and Bute, where the average price decreased by 0.4 per cent to £189,000.

In August 2024, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £339,000. In contrast, the lowest-priced area to purchase a property was East Ayrshire, where the average price was £131,000.