Scotland house prices increased by 9.9% (Fife 8.8%) in the year to July 2022, down from an increase of 11.4% (Fife 12.7%) in the year to June 2022. On a non-seasonally adjusted basis, average house prices in Scotland increased by 0.6% between June and July 2022, compared with an increase of 1.9% during the same period a year earlier (June 2021 and July 2021). On a seasonally adjusted basis, average house prices in Scotland increased by 0.3% between June and July 2022.
Comparing the provisional volume estimate for May 2021 with the provisional estimate for May 2022, the volume of transactions decreased by 0.6% in Scotland (Fife increased 3.4%). The UK volume of transactions increased by 34.5% over the same period.
In Scotland, terraced houses showed the largest increase out of all property types, rising by 11.0% in the year to July 2022 to £164,000. The lowest annual change of all property types was in flats and maisonettes, which increased by 8.0% in the year to July 2022 to £132,000.
The largest growth was in East Ayrshire, where prices increased by 19.8% in the year to July 2022 to £129,000. The lowest annual growth for the year to July 2022 was in City of Aberdeen where average prices increased over the year by 0.8% to £149,000.
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. However the Scottish and Fife Housing Markets are holding up well.
