Scottish house prices up by greatest margin since 2015

Jake Carter

January 22, 2021

Scottish house prices rose by 3.1% on a monthly basis in November 2020, representing the largest increase since March 2015, according to The Walker Fraser Steele House Price Index for Scotland.

The data also revealed that house prices were up 6.7% year-on-year to bring the average property price to £198,157.

A total of 22 local authorities reached record average house prices in November.

Na h-Eileanan Siar recorded the great annual and monthly rise in property prices, up 20.3% and 14.5%, respectively.

As a result, average property prices were noted at £150,835.

In contrast, the Shetland Islands recorded the greatest monthly fall in property prices, down 11.2% to £167,687.

On a yearly basis, Aberdeen City noted the largest decline in property prices, dropping by 4.9% to £186,945.

Overall, 29 of the 32 authorities saw prices rise over on a monthly and yearly basis.

Walker Fraser Steele is the trading name of e.surv Chartered Surveyors in Scotland.

Alan Penman, business development manager at Walker Fraser Steele, said: “Rising house prices showed no sign of slowing down in November, with the average house price in Scotland up by 3.1% – the largest monthly increase since March 2015.

“The growth was felt across the board, with 29 of the 32 local authority areas seeing month-on-month price increases.

“Additionally, transactions numbers remain strong, with our data showing that October volumes surpassed the monthly totals of the previous six years.

“The busy market reflects an increase in the demand for homes and confirms widespread price growth, rather than for a small number of purchases at the top end of the market.

“Despite the monthly growth, the activity pause in the first lockdown caused overall transaction numbers from January to October 2020 to be down 27% from the same period last year.”

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