finance

Scottish house prices have soared – see how much in your area



House prices have rocketed in parts of Scotland during the year to April, as the UK saw the second-largest annual rise in well over a decade.

Across the country, the average price reached £187,954 in April, according to the latest Land Registry data. That’s 3% above £182,424 in March and 16.2% more than a year earlier, when the figure was £161,814.

In the Orkney Islands, the average house price rose by 34.3% over the year to £220,739 – the biggest increase of anywhere in the UK.

That was followed by Na h-Eileanan Siar, where it went up 25.1% to £159,288 – the third-highest rise – while in Scottish Borders it rose 22.9% to £203,485 – fifth overall.

Meanwhile Edinburgh had the highest average house price – at £324,947 – although that represented a slightly more modest 11.6% annual increase.

Across the UK as a whole, the average home was valued at £281,161 in April, which was 12.4% – or £31,000 – higher than £250,210 a year previously.

That was the second-largest rise in more than 15 years, after prices increased by 13.3% in the year to June 2021, which was in part driven by a rush to take advantage of the stamp duty holiday put in place to boost the property market during the pandemic.

Chris Jenkins, house prices statistician for the Office for National Statistics, said: “While annual growth nudged up again in April, this was mainly due to falls seen at this time last year from changes in the previous stamp duty holiday – Wales and Scotland saw the highest growth with London, again, growing the slowest.

“Rental prices continued to grow steadily overall, but while still lagging other nations and regions, growth in London continues to pick up.”

Despite rocketing house prices in many parts of the UK, some property experts are predicting the market could slow down in the coming months due to rising interest rates.

The Bank of England recently raised interest rates for the fifth time in a row, to 1.25%, in a bid to put the brakes on rising prices by making borrowing more expensive.

Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, said this could be “as good as it gets” for property owners.

She added: “These figures reflect house purchase decisions made much earlier, when we had only had the very first of the interest rate rises, and the full horror of the energy price cap hadn’t kicked in.

“In many cases, buyers will have made an offer before the invasion of Ukraine, and well before it had a chance to feed so spectacularly into inflation.”

Average house prices by month and local authority area – ordered by annual % change from highest to lowest

Area

Average price (April 2020)

Average price (March 2022)

Average price (April 2022)

monthly % change

Annual % change

Orkney Islands

164,318

189,861

220,739

16.3%

34.3%

Na h-Eileanan Siar

127,282

154,164

159,288

3.3%

25.1%

Scottish Borders

165,631

194,404

203,485

4.7%

22.9%

Falkirk

135,740

160,032

162,195

1.4%

19.5%

Moray

159,559

179,923

189,092

5.1%

18.5%

Argyll and Bute

154,391

183,811

180,810

-1.6%

17.1%

East Renfrewshire

246,145

283,412

287,351

1.4%

16.7%

East Ayrshire

105,079

122,847

122,334

-0.4%

16.4%

Dumfries and Galloway

138,917

157,402

159,211

1.1%

14.6%

Clackmannanshire

140,614

158,153

160,240

1.3%

14.0%

North Ayrshire

108,765

120,856

124,040

2.6%

14.0%

Midlothian

204,619

228,473

232,620

1.8%

13.7%

South Ayrshire

146,326

165,037

166,307

0.8%

13.7%

Fife

145,049

167,439

164,831

-1.6%

13.6%

South Lanarkshire

139,342

158,155

157,867

-0.2%

13.3%

East Lothian

255,913

293,420

289,711

-1.3%

13.2%

Renfrewshire

131,959

147,236

149,380

1.5%

13.2%

North Lanarkshire

116,936

131,626

132,424

0.6%

13.2%

East Dunbartonshire

231,480

254,987

260,038

2.0%

12.3%

West Lothian

175,779

194,930

196,887

1.0%

12.0%

City of Edinburgh

291,289

323,419

324,947

0.5%

11.6%

Highland

182,055

202,036

202,639

0.3%

11.3%

West Dunbartonshire

118,498

130,498

131,673

0.9%

11.1%

Aberdeenshire

184,831

199,691

204,087

2.2%

10.4%

Perth and Kinross

213,423

229,318

235,269

2.6%

10.2%

City of Glasgow

149,897

163,510

163,494

0.0%

9.1%

Stirling

210,345

227,119

226,732

-0.2%

7.8%

Angus

150,997

161,002

162,242

0.8%

7.4%

City of Aberdeen

139,339

144,236

147,562

2.3%

5.9%

City of Dundee

137,872

141,497

145,569

2.9%

5.6%

Inverclyde

107,589

116,771

111,462

-4.5%

3.6%

Shetland Islands

189,135

185,637

187,939

1.2%

-0.6%

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