UK House Price Index Scotland & Fife March 2023
Headline statistics for March 2023
The average price of a property in Scotland was £184,877
The annual price change of a property in Scotland was 3.0%
The monthly price change of a property in Scotland was 0.7%
The index figure for Scotland (January 2015 = 100) was 137.0
Average house prices in Scotland increased by 3.0% in the 12 months to March 2023. This was up from 2.8% the 12 months to February 2023 and was slower than the average UK house price annual inflation of 4.1% in the 12 months to March 2023.
On a non-seasonally adjusted basis, average house prices in Scotland increased by 0.7% between February 2023 and March 2023, compared with an increase of 0.6% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland decreased by 0.1% between February 2023 and March 2023.
Comparing the provisional volume estimate for January 2022 with the provisional volume estimate for January 2023, the volume of transactions decreased by 19.4% in Scotland and increased by 9.3% in the UK.
In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 4.9% in the 12 months to March 2023 to £340,000. Flats and maisonettes showed the lowest annual percentage change, which increased by 1.7% in the 12 months to March 2023 to an average price of £125,000.
The highest annual percentage change was in East Lothian, where average house prices increased by 8.6% in the 12 months to March 2023 to £317,000. The lowest annual percentage change was in City of Aberdeen, where average house prices decreased by 6.9% in the 12 months to March 2023 to £132,000.
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.
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