Scottish House Price Index Figures For April 2022
22nd June 2022
Latest house price data from Registers of Scotland published on 22 June 2022.
£187,954 - The average price of a property in Scotland
16.2% - The annual price change of a property in Scotland
3.0% - The monthly price change of a property in Scotland.
Estimates for the most recent months are provisional and are likely to be updated as more data is included. The house price index for April 2022 reflects transactions that took place up to the end of April.
The latest provisional statistics from the UK HPI show that the average price of a property in Scotland in April 2022 was £187,954, an increase of 16.2 per cent on April 2021.
Comparing with the previous month, house prices in Scotland increased by 3.0% between March 2022 and April 2022.
The UK average house price was £281,161, which was an increase of 12.4 per cent on April 2021 and an increase of 1.1 per cent on the previous month.
The volume of residential sales in Scotland in February 2022 was 6,435, a decrease of 10.6 per cent on the original provisional estimate for February 2021 and an increase of 12.2 per cent on February 2020. This compares with decreases of 31.7 per cent in England and 9.1 per cent in Wales to February 2022, whilst sales volumes decreased by 19.3 per cent in Northern Ireland when analysing Quarter 1 - 2022 relative to the same quarter in the previous year.
Commenting on the house price and volume figures in Scotland, Janet Egdell, Registers of Scotland Accountable Officer said:
"Average prices for property in Scotland keep on rising and have increased in every month since July 2020 when comparing with the previous year. The annual increase has been in excess of five per cent in every month since October 2020. In comparison, in the 12 months to October 2020, the annual increase only exceeded three per cent on one occasion."
"Over the year as a whole from March 2021 to the end of February 2022, the number of transactions remained high, 23.3 per cent higher than the previous year which was affected by COVID-19 measures, and 8.3 per cent higher than the year before (pre-COVID) from March 2019 to February 2020."
In Scotland, detached properties showed the biggest increase out of all property types, rising by 22.5 per cent in the year to April 2022 to £346,753. Flatted properties showed the smallest increase, rising by 10.4 per cent in the year to April 2022 to £126,446.
Average price increases were recorded in 31 out of 32 local authorities, when comparing prices with the previous year The largest increase was in Scottish Borders where the average price increased by 22.9 per cent to £203,485. The smallest increase was recorded in Inverclyde, where the average price increased by 3.6 per cent to £111,462
In April 2022, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £324,947 In contrast, the lowest-priced area to purchase a property was Inverclyde, where the average price was £111,462.
Further information on HPI Scotland by local authority, property type, first time buyers and cash sales can be found in the latest HPI Scotland publication.
As with other indicators in the housing market, which typically fluctuate from month-to-month, it is important not to put too much weight on one month's set of house price data. This was particularly important in the year from March 2020, as measures to counter COVID-19 affected the volume of transactions within the market, making trends between months and between years more volatile than usual.
Source - https://www.ros.gov.uk/about/news/2022/uk-house-price-index-figures-for-april-2022