According to the latest provisional statistics from the UK House Price Index released by Registers of Scotland, Scotland’s property prices continued to soar in June 2022 . The average price reached £192,249, an increase of 11.6% on June 2021 and of 2.2% compared with May 2022. The UK average rose by 1.0% on the previous month, and 7.8% year on year, to £286,397.
All 32 local authority areas within Scotland recorded an annual increase. The largest mainland increase was in East Ayrshire at 22.4%, followed by Argyll & Bute (19.0%), Clackmannanshire (18.8%) and East Renfrewshire (18.6%). to £125,911. The smallest increase was recorded in City of Aberdeen at 2.1%, followed by Inverclyde (2.4%). No other area saw an increase below 9%, the figure for the City of Edinburgh. Detached properties continued to show the biggest rise, up by 17.2% over the year, while flats showed the smallest increase at 7.4%.
The volume of residential sales in Scotland in April 2022 is provisionally estimated at 8,482, up 21.1% on the original provisional estimate for April 2021. This compares with a decrease of 1.9% in England and an increase of 9.6% in Wales.
Whether you are buying or selling, no matter what your budget or where in Scotland your property is, our conveyancing team will be happy to assist – just give us a call on 0141 673 5588, or drop us an email to legal@raesidechisholm.co.uk