RoS: Scottish house prices remain steady in October
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The latest HPI for Scotland show the average price of a property in Scotland in October 2024 was £197,000, an increase of 5.5% when compared to October 2023.
Compared to the previous month, house prices in Scotland increased by 0.2% on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was an increase of 0.3%.
The volume of residential sales in Scotland in August 2024 was 9,791. When compared with the first published figures for August 2023 this was an annual increase of 18.5%.
A Registers of Scotland spokesperson said: “There was an increase of 5.5% (to £197,000) in the average house price for Scotland in the 12 months to October 2024. This compares to an increase of 3.4% (to £292,000) in average house prices for the UK as a whole.”
| Property type | House price level (£) | Annual house price percentage change |
|---|---|---|
| Detached | £346,000 | 5.9% |
| Semi-detached | £209,000 | 5.1% |
| Terraced | £168,000 | 5.7% |
| Flats or Maisonettes | £138,000 | 5.4% |
Increases were recorded in 30 out of 32 local authority areas, when comparing prices with the previous year. The largest increase was in West Lothian where the average price increased by 9.7% to £220,000. The largest decrease was recorded in Dumfries and Galloway, where the average price decreased by 0.7% to £165,000.
In October 2024, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £340,000. In contrast, the lowest-priced areas to purchase a property was Inverclyde and East Ayrshire, where the average price in both was £133,000.
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