Average Scottish house price 'jumps by almost £19,000 in a year'

The average house price in Scotland has jumped by almost £19,000 in the space of a year as households grapple with the cost of living, according to new figures.

The Office of National Statistics (ONS) said buyers across the UK faced a jump of £32,000 in May 2022.

In Scotland, buyers faced an increase of 11.2% in May 2022 – down from a rise of 14.7% in the year to April 2022.

Property values in England, Wales and Scotland all hit new record levels, with the average house price in Scotland at a record level of £188,000.

HM Land Registry

The largest growth was in Argyll and Bute, where prices increased by 18.7% in the 12 months to May 2022 to £185,000.

Houses in Edinburgh remained the most expensive in Scotland, at an average of £321,679 – but the rate of growth was relatively low, at 7.9%.

The lowest annual growth for the year to May 2022 was in Inverclyde where average prices decreased over the year by 0.1% to £113,000.

HM Land Registry

Detached houses showed the largest increase out of all property types, rising by 13.6% in the year to May 2022 to £332,000.

The lowest annual change of all property types was in flats and maisonettes, which increased by 8.2% in the year to May 2022 to £129,000.

The ONS also released figures showing that private rental prices rose by 3% in the 12 months to June, up from 2.8% in the 12 months to May.

Private rental prices grew by 3.5% in Scotland in the 12 months to June.