House price statistics from Registers of Scotland (RoS).
Key figures for 2022-23:
The average price of residential property in Scotland
The median price of residential property in Scotland
The total number of residential property sales in Scotland
- £21.9 billion
The value of residential property sales in Scotland
The Property Market Report is the main statistical compendium publication from Registers of Scotland (RoS).
It details the major trends in the Scottish land and property market since 2003-04, includes residential and non-residential markets as well as key statistics on house prices and sale transactions
The latest statistics from Registers of Scotland’s Property Market Report 2022-23 show that the average price of a residential property in Scotland in 2022-23 was £216,337, up by 7.1% on 2021-22.
Since 2003-04, the start of RoS house price data, the average residential property price in Scotland has more than doubled, whilst sales volumes have decreased by 22% over the same period.
The total number of residential property sales decreased by 7.9% from 109,770 sales in 2021-22 to 101,055 in 2022-23.
The value of residential property sales in the financial year 2022-23 was £21.9 billion, a decrease of 1.4% when compared with 2021-22.
The average price for a new build residential property was £308,158 in 2022-23, an increase of 8.0% compared with 2021-22. In 2022-23, 12% of residential property sales in Scotland were new builds.
The report also looks at the non-residential market. The total market value of non-residential sales in 2022-23 was £3.8 billion, down 11% on 2021-22. Commercial sales accounted for 74% of the total value, with the remainder from sales of forestry, agriculture and land.
Commenting on the release, Business Development Director, Kenny Crawford said:
“Residential property prices continued to rise in 2022-23, up 7.1% on the previous year. However, the number of sales fell by 7.9% and the total value of the residential sales market fell slightly to £21.9bn, a decrease of 1.4% compared with 2021-22.”
The Property Market Report 2022-23 provides analysis of:
- residential sales by house type and price band
- sales of properties within new build developments
- residential sales with a sale price of more than £1 million
- the market within Scotland’s eight cities and local authorities
- trends in cash and mortgage-financed sales volumes
- residential property sales by urban rural classification
- the non-residential market
- the median residential house prices and the distribution of prices
Notes to editors
- Registers of Scotland (RoS) is the government department responsible for compiling and maintaining registers relating to property and other legal documents in Scotland. RoS records and safeguards the rights of the individual while providing open access to information on the registers.
- This is an official statistics publication for Scotland. The statistics have been produced in line with the principles set out in the Code of Practice for Statistics.
- The property statistics are compiled using data collected as part of the land registration process. This data is comprehensive, covering transactions across the whole of Scotland for all types of property sales, in residential and non-residential markets, and with actual sale prices, not just valuations. Full information on the methodology used to compile these statistics can be found on our website.
- Further information about the quality processes in place for RoS data is available in the quality assurance of administrative data document, as published for the UK House Price Index.
- RoS began compiling quarterly statistics on the property market with the completion of the extension of the Land Register to all counties in Scotland in April 2003. Details of all of our property statistics releases, including the UK House Price Index, and future publication dates are available on our website.
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- Average price quoted here is the arithmetic mean calculated on sales between £20,000 and £1 million.↩
- The median price is the mid-point of all market value sales and is typically closer to the HPI measure of average price than the arithmetic mean.↩
- The majority of land classifications will be provided by conveyancing solicitors on RoS registration forms and can be defined as follows: Land: areas of ground, undeveloped, commonly under two hectares; Agriculture: areas of ground over two hectares, titles with “farm” in the description ; Forestry: as areas of woodland or forestry, undeveloped.↩