Three key figures for October 2024:
- £197,000
The average price of a property in Scotland - 5.5%
The annual price change of a property in Scotland - 0.2%
The monthly price change of a property in Scotland
Estimates for the most recent months are provisional and are likely to be updated as more data is included. The House Price Index for 2024 reflects transactions that took place up to the end of October 2024.
The latest HPI for Scotland show the average price of a property in Scotland in October 2024 was £197,000, an increase of 5.5% when compared to October 2023.
Compared to the previous month, house prices in Scotland increased by 0.2% on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was an increase of 0.3%.
The UK average house price was £292,000 which was an annual increase of 3.4% on October 2023. Compared with the previous month, UK house prices increased by 0.2% on a non-seasonally adjusted basis and increased by 0.5% on a seasonally adjusted basis.
The volume of residential sales in Scotland in August 2024 was 9,791. When compared with the first published figures for August 2023 this was an annual increase of 18.5%.
Commenting on the house price figures in Scotland, a RoS spokesperson said:
“There was an increase of 5.5% (to £197,000) in the average house price for Scotland in the 12 months to October 2024. This compares to an increase of 3.4% (to £292,000) in average house prices for the UK as a whole.”
The table below provides Scotland house prices and annual changes by property type.
| Property type | House price level (£) | Annual house price percentage change |
|---|---|---|
| Detached | £346,000 | 5.9% |
| Semi-detached | £209,000 | 5.1% |
| Terraced | £168,000 | 5.7% |
| Flats or Maisonettes | £138,000 | 5.4% |
Average prices for Local Authorities are based on a 3-month moving average to help remove some of the volatility in the series. Increases were recorded in 30 out of 32 local authority areas, when comparing prices with the previous year. The largest increase was in West Lothian where the average price increased by 9.7% to £220,000. The largest decrease was recorded in Dumfries and Galloway, where the average price decreased by 0.7% to £165,000.
In October 2024, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £340,000. In contrast, the lowest-priced areas to purchase a property was Inverclyde and East Ayrshire, where the average price in both was £133,000.
Further information on HPI Scotland by local authority, property type, first time buyers and cash sales can be found in the latest HPI Scotland publication. Visualisations can be found the ONS Housing prices in your area page.
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.
Notes to editors
- Due to HM Land Registry (HMLR) processing delays, the transaction volumes available to calculate UK House Price Index estimates have been considerably lower than historically. ONS and HMLR are working to improve the balance between processing recently received and older applications. Revisions may be larger than usual in the coming months, especially for new build breakdowns.
- Registers of Scotland is the public body responsible for compiling and maintaining registers relating to property and other legal documents in Scotland. Registers of Scotland records and safeguards the rights of the individual while providing open access to information on the registers. Information on individual property purchase prices is available for free via our ScotLIS service.
- The statistics have been produced in accordance with the Code of Practice for Statistics. The UK House Price Index is a joint publication with our publication partners: HM Land Registry for England and Wales, Land & Property Services Northern Ireland and Office for National Statistics. The UK HPI was designated as National Statistics by the Office for Statistics Regulation on 18 October 2018.
- Economic commentary is available along with separate HPI releases for England and Wales and for Northern Ireland.
- More information is available in the UK HPI Quality and Methodology Information and in the Acorn quality assurance information. A comparison guide comparing the different house price index measures that are published in the UK is also available.
- More information about HPI, the calendar of release dates, and our other property statistics is available here.
- Sign up for our data stats alert service.
Footnotes
- All average prices reported from the UK HPI are geometric means, which will typically be closer to the median than the arithmetic mean. Prices shown here are rounded to the nearest £1,000.↩
- The final revised volume of sales in August 2023 was 8,415, an annual increase of 16.4% in August 2024. However, the sales volume for August 2024 is still subject to revision. The amount of time between the sale of a property and the registration of this information varies. It typically ranges between 2 weeks and 2 months but can be longer. Volume figures for the most recent 2 months are not yet at a reliable level for reporting, so they are not included in the report. Published transactions for recent months will increase as later registered transactions are incorporated into the index.↩
- Orkney Islands, Na h-Eileanan Siar and Shetland Islands are not considered when highlighting which local authorities have experienced the highest/lowest increase, due to the low numbers of sales transactions in these local authorities which can lead to volatility in the series.↩