Scottish average house prices reach record £177,166 in July

It represents a 14.6% rise from July last year, and a 2% increase from June this year, UK House Price Index figures show.

Scottish average house prices reach record £177,166 in July PA Ready

The average house price in Scotland has reached its highest recorded level after climbing to £177,166 in July.

It represents a 14.6% rise from July last year, and a 2% increase from June this year, UK House Price Index figures show.

Semi-detached properties showed the largest increase in average house price, rising by 16.3% in the year to July to £187,181, Registers of Scotland (RoS) said.

Flats experienced the smallest increase, rising 12.5% over the same period to £124,517, it added.

This July, the highest prices were in the City of Edinburgh, where the average price was £309,227.

By contrast, the cheapest area to buy was East Ayrshire, where the average price was £109,985.

All of Scotland’s 32 local authorities saw increases, when comparing prices with the previous year.

The largest came in Inverclyde where the average price increased by 29% to £119,168, while the smallest came in Stirling, which saw a 4.9% rise to £218,602.

RoS business development director Kenny Crawford said: “The average price of a property in Scotland of £177,166 is the highest reported for any month since January 2004, from when Scottish data for the UK HPI was first available.

“Over the year as a whole from June 2020 to the end of May 2021, the number of transactions has picked up following the reductions caused by Covid-19 measures and cumulatively is now 17% higher than the previous year.”

The average UK house price was £255,535 in July – around £19,000 higher than a year earlier but nearly £10,000 lower than a record of £265,448 in June as a full stamp duty holiday ended.

STV News is now on WhatsApp

Get all the latest news from around the country

Follow STV News
Follow STV News on WhatsApp

Scan the QR code on your mobile device for all the latest news from around the country

WhatsApp channel QR Code