Property market report 2024-25

Published: 10 June 2025

Long term review of the Scottish property market.

Documents

Data tables - Property Market Report 2024-2025 - (322.1 KB)
Registers of Scotland Property Market Report 2024-25 - (927.3 KB)

Main findings

Table of contents

Introduction

Below are the main findings of the Property Market Report 2024-25, providing a long-term review of trends in residential and non-residential property sales from 2003-04 to 2024-25.

More charts and visualisations of the data are also available via our Tableau page.

Previous reports can be viewed via our publications.

Residential market overview

Figure 1: 2024-25 Residential market summary, data tables 1-3

Residential market data tables

  • The volume of sales increased by 7% between 2023-24 and 2024-25 and the median price of a residential property increased from £185,000 to £190,000 during the same period.
  • The total market value of residential sales was £22.7 billion in 2024-25, and despite sustained increases in prices over the past 20 years, the market value has not eclipsed the peak of £23.2 billion in 2007-08.

Figure 2: Residential sales by volume and median price from 2003-04 to 2024-25, data tables 1 & 2

A column and line graph depicting property sales volume and median price in Scotland from 2003-04 to 2024-25. The vertical columns, displayed on the primary axis, represent the volume of property sales each year, with totals fluctuating over time—peaking in 2006-07 before dropping significantly in 2008-09, then stabilizing around 100,000 sales from 2013-14 onwards. The secondary axis features a line indicating the median price, which shows a general upward trend, increasing steadily from £75,000 in 2003-04 to £190,000 in 2024-25.

More information on this section is available in chapter 1.1 of the full report.

Distribution of prices

Figure 3: Volume of residential sales in Scotland by price band 2024-25, data table 8.

A column chart illustrating the distribution of property sales in Scotland for 2024-25 across different price bands. The highest number of sales occurred in the £145,000 to £250,000 range, with 32,958 properties sold, followed closely by the £40,000 to £145,000 range at 31,946 sales. The number of sales decreases as price bands increase, with only 811 properties sold in the £750,000 to £1,000,000 range and 391 sales for properties over £1,000,000.

In 2024-25 :

  • Around two thirds of residential property sales in Scotland were below £250,000
  • 29% of sales were between £250,000 and £525,000
  • 4% of sales were over £525,000

More information on this section is available in chapter 1.1 of the full report.

Prices across local authorities

  • East Renfrewshire had the highest median price of all local authorities, at £290,000.
  • Inverclyde had the lowest median house price in 2024-25, at £115,000.
  • City of Edinburgh and Glasgow City local authority areas had the largest sales volumes with 11,525 and 10,833 sales respectively, accounting for 22% of all residential sales.
  • Over the 5 years from 2019-20 to 2024-25, Aberdeen City was the only local authorities to show a drop in median price.
  • In 2024-25, there were 391 residential sales priced over £1 million across Scotland, down slightly from 403 sales in 2023-24. Over half of all sales priced over £1 million are located in the City of Edinburgh.

House types

Figure 4: 2024-25 House Types, data tables 11-13

volume of sales by house type data table

  • Although flats had the highest volume of sales, over the past 10 years flats have shown the slowest growth in prices at 26%, compared with around 40-45% for other house types.

More information on this section is available in chapter 1.2 of the full report.

New Builds

The figures presented in this section relate to single residential properties sold out of a builder’s development title. The figures are therefore likely to cover the majority of new build transactions undertaken but will exclude sales related to very small developments or single new build properties by private or small-scale builders.

Figure 5: 2024-25 New Build, data tables 14-17

Scottish islands data tables

  • Despite a 3% rise in prices, the total market value of new build sales declined by 4% between 2023-24 and 2024-25, falling to £3.2 billion. This drop was driven by a 7% decrease in the volume of sales.

Figure 6: 2024-25 comparison of median price of new build residential sales and all residential sales by house type.

A line graph illustrating mortgage market trends from 2003-04 to 2024-25. The primary axis represents the total volume of sales, while the secondary axis shows the percentage of mortgage purchases. Initially, mortgage sales dominated, hovering around 83% until the 2008-09 financial crisis, which led to a sharp decline in total sales and a drop in mortgage purchases. Over time, cash sales gained prominence, particularly as lending conditions tightened. By 2023-24, mortgage-financed transactions had decreased to 63%, while cash purchases became a more significant share of total sales. In 2024-25, mortgage sales rebounded slightly to 67%

The median price for new build sales is significantly higher than for all sales, with £310,000 for new builds compared to £190,000 for all sales.

New build prices are higher across all property types; the following factors contribute to the scale of the overall difference in price:

  • Flats make up the majority of all sales and flats tend to be less expensive than other property types. In addition, the median price for all flats is around half the value of the median for new build flats.
  • Detached properties make up the majority of new build sales and detached properties tend to be more expensive than flats.

More information on this section is available in chapter 1.3 of the full report.

Cities

This section looks at Scotland’s eight cities which are defined using locality information from National Records of Scotland.

Figure 7: 2024-25 City residential, data tables 28-30.

A bar chart displaying volumes and total values of residential property sales in Scottish cities for 2024-25. Edinburgh and Glasgow have the highest number of sales, accounting for approximately 34% each of total volume, with Edinburgh leading in total property value at nearly 47%. Aberdeen (12%), Dundee (8%), and Dunfermline (4%) follow with smaller shares, while Inverness (3%), Perth (3%), and Stirling (2%) have the lowest sales figures. The data highlights the disparity between cities in terms of market size and property values.

  • In 2024-25, the city market accounted for 31% of all residential property sales in Scotland.
  • Edinburgh and Glasgow had a similar share of sales in terms of volumes in 2024-25; Edinburgh had a significantly larger share in terms of market value.
  • Edinburgh had the highest median price in 2024-25 at £270,000 and Aberdeen had the lowest at £130,000.
  • Residential sales in Edinburgh represented 47% of the residential market value of all cities and 16% of the of the whole of Scotland in 2024-25.

More information on this section is available in chapter 1.4 of the full report.

Urban rural

The Scottish Government urban rural classification 2022 was attached to residential property sales.

  • Accessible rural areas had the highest median price of all areas in 2024-25 at £270,000.
  • Remote small towns had the lowest median price in 2024-25 at £129,000 and was the only area to show a drop in median price since 2023-24.
  • The variations in the mix of property types had an impact on the overall averages for urban and rural areas.

Figure 8: Median price by house type and urban rural classification, data table 42

Bar chart urban rural property types

More information on this section is available in chapter 1.5 of the full report.

Scottish Island Regions

House prices in the Scottish Island Regions, using Scottish Government’s recently developed Scottish Island Regions geography for grouping Scotland’s islands into nine different island regions.

Figure 9: 2024-25 Scottish Islands, data tables 31-33

Scottish islands data

  • The median residential property price for the island regions as a whole was £180,000 in 2024-25, lower than the median of £191,000 for mainland Scotland.
  • There were significant differences in median prices between the different island regions, ranging from £138,000 in Shetland Outer Islands to £240,000 for Highland Islands.

More information on this section is available in chapter 1.6 of the full report.

Mortgage market and cash sales

In 2024-25:

  • the volume of residential sales with a mortgage was 67,004, 67% of the residential market;
  • the volume of residential cash sales was 32,971, 33% of the residential market;
  • the volume of all mortgage securities across all property types, including both mortgage sales and remortgage/additional borrowing, was 108,715, an increase of 10% when compared with 2023-24.

Figure 10: Number of residential sales by funding status, data table 46

Line graph cash sale mortgage sale

More information on this section is available in chapter 2 of the full report.

Non-residential market

Our non-residential overview covers commercial sales, commercial leases, and sales of titles that are classified as forestry, agriculture, and land.

Figure 11: Non-Residential Market summary, data tables 54-64

Volume of sales data table

In 2024-25:

  • there were 7,728 non-residential sales with a total market value of £3.7 billion;
  • there were 4,554 commercial sales, an increase of 7% from 2023-24;
  • there were 803 commercial leases, an increase of 6% from 2023-24.

More information on this section is available in chapter 3 of the full report.

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