PODCAST: https://anchor.fm/fife-properties/episodes/SCOTTISH–FIFE-House-Price-Statistics-Dec-2022-e1v4f62
Average house prices in Scotland increased by 5.7% in the 12 months to December2022, increasing slower than average UK house prices (9.8%) and down from 6.2% in the 12 months to November 2022.
On a non-seasonally adjusted basis, average house prices in Scotland decreased by2.9% between November and December 2022, compared with a decrease of 2.5%during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland decreased by 1.4% between November and December2022.
Comparing the October 2021 with the provisional volume estimate for October 2022, the volume of transactions decreased by 12.5% in Scotland and increased by 77.3% in the UK.
In Scotland, detached houses showed the largest annual percentage change out of all property types, increasing by 8.8% in the 12 months to December 2022 to £343,000. Flats and maisonettes showed the lowest annual percentage change, which increased by 2.4% in the year to December 2022 to an average price of £126,000.
The highest annual percentage change was in Midlothian, where average house prices increased by 12.5% in the 12 months to December 2022 to £243,000. The lowest annual percentage change was in City of Aberdeen, where average house prices decreased by 4.0% in the 12 months to December 2022 to £139,000.
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.
