News In Focus
Annual house price growth slows to 1.3%
Year-on-year average house price growth in Scotland slowed to 1.3% in January 2019, compared with 2.4% the previous month, according to the latest figures from Registers of Scotland.
The average price achieved was £149,036, up 0.6% on December 2018. This compares to a UK average of £228,147, 1.7% higher than in January 2018 but down 0.8% compared to the previous month.
The latest provisional estimate of volume of residential sales in Scotland in November 2018 is 9,992 – an increase of 16.6% on the comparable figure for November 2017. This compares to increases of 11.5% in England, 16.4% in Wales and 4.3% over the final quarter of 2018 in Northern Ireland.
Average year-on-year price increases were recorded in the majority (22) of local authorities in January 2019, when comparing prices with the previous year. The biggest increases were in Midlothian (13.6%) and Perth & Kinross (7.2%), while the largest decreases were recorded in Inverclyde (8.1%) and Aberdeen City (7.9%).
Registers of Scotland operations director and accountable officer Janet Egdell commented: “Average prices in Scotland continued their upward trend in January with an increase of 1.3 per cent when compared to January 2018. The average price has increased each month since March 2016, when compared with the same month of the previous year.
“The volume of residential sales in Scotland increased in November. This continues a recent turnaround following the downward trend seen in most months since November 2017, when compared with the same month of the previous year. From April to November 2018, the cumulative sales volume was 73,157. This is a decrease of 0.3% on the equivalent year to date position in the previous financial year 2017-18.”
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