UK House Price Index Scotland: March 2018
Published 23 May 2018
Applies to Scotland
© Crown copyright 2018
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This publication is available at https://www.gov.uk/government/statistics/uk-house-price-index-scotland-march-2018/uk-house-price-index-scotland-march-2018
1. Headline statistics in March 2018
the average price of a property in Scotland was
£146,009
the annual price change of a property in Scotland was
6.7%
the monthly price change of a property in Scotland was
0.5%
the index figure for Scotland (January 2015 = 100) was
108.2
Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.
Next publication of UK HPI
The April 2018 UK HPI will be published at 9.30am on Wednesday 13 June 2018. See the calendar of release dates.
2. Economic statement
Scotland house prices grew by 6.7% in the year to March 2018, down from 6.8% in the year to February 2018. Scotland house prices grew more quickly than the UK annual rate of 4.2% in the year to March 2018.
On a seasonally adjusted basis, average house prices in Scotland increased by 0.3% between March 2018 and February 2018, compared with an increase of 0.4% during the same period a year earlier.
The UK Property Transaction Statistics for March 2018 showed that on a non-seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater in Scotland is 17.0% lower compared with a year ago. Between February 2018 and March 2018, transactions increased by 39.5%.
Across Scotland, all property types showed an increase in average price in March 2018 when compared with the same month in the previous year. Terraced houses showed the biggest increase, rising by 7.6% in the year to March 2018 to £122,000. The average price of flats and maisonettes showed an increase of 5.9% in the year to March to £104,000, the smallest increase of all property types.
House prices have increased over the last year in 27 out of 32 local authority areas. The local authority showing the largest annual growth in the year to March 2018 was Falkirk, where prices increased by 12.7% to stand at £124,000. This was closely followed by City of Edinburgh where prices increased by 12.5% over the year.
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.
3. Price change
3.1 Annual price change
Annual price change for Scotland over the past 5 years
Download this chart’s data (CSV, 1KB)
In Scotland, the average price increased by 6.7% in the year to March 2018 (down from 6.8% in the year to February 2018).
Annual price change by local authority for Scotland
Low numbers of sales transactions in some local authorities, such as Orkney Islands, Na h-Eileanan Siar and Shetland Islands, can lead to volatility in the series.
While we make efforts to account for this volatility, the change in price in these local levels can be influenced by the type and number of properties sold in any given period.
Geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements.
| Local authorities | March 2018 | March 2017 | Difference |
|---|---|---|---|
| Aberdeenshire | £193,243 | £187,332 | 3.2% |
| Angus | £141,786 | £136,315 | 4.0% |
| Argyll and Bute | £138,303 | £125,301 | 10.4% |
| City of Aberdeen | £160,464 | £163,840 | -2.1% |
| City of Dundee | £115,846 | £115,873 | 0.0% |
| City of Edinburgh | £252,992 | £224,861 | 12.5% |
| City of Glasgow | £124,032 | £115,148 | 7.7% |
| Clackmannanshire | £124,765 | £111,904 | 11.5% |
| Dumfries and Galloway | £128,472 | £117,750 | 9.1% |
| East Ayrshire | £94,999 | £86,907 | 9.3% |
| East Dunbartonshire | £205,808 | £196,410 | 4.8% |
| East Lothian | £214,953 | £193,660 | 11.0% |
| East Renfrewshire | £220,679 | £204,754 | 7.8% |
| Falkirk | £123,800 | £109,805 | 12.7% |
| Fife | £132,845 | £124,576 | 6.6% |
| Highland | £159,196 | £155,334 | 2.5% |
| Inverclyde | £97,924 | £99,283 | -1.4% |
| Midlothian | £172,809 | £155,863 | 10.9% |
| Moray | £149,470 | £141,844 | 5.4% |
| Na h-Eileanan Siar | £102,539 | £105,948 | -3.2% |
| North Ayrshire | £99,254 | £94,462 | 5.1% |
| North Lanarkshire | £103,521 | £96,563 | 7.2% |
| Orkney Islands | £142,177 | £132,437 | 7.4% |
| Perth and Kinross | £175,628 | £174,859 | 0.4% |
| Renfrewshire | £117,595 | £108,905 | 8.0% |
| Scottish Borders | £147,106 | £136,596 | 7.7% |
| Shetland Islands | £153,458 | £157,396 | -2.5% |
| South Ayrshire | £133,405 | £130,077 | 2.6% |
| South Lanarkshire | £125,997 | £120,944 | 4.2% |
| Stirling | £173,330 | £168,712 | 2.7% |
| West Dunbartonshire | £104,305 | £93,327 | 11.8% |
| West Lothian | £153,550 | £137,042 | 12.0% |
| Scotland | £146,009 | £136,891 | 6.7% |
Download this table’s data (CSV, 1KB)
All sales received for registration with an entry date (date of ownership of the property) within the report date range are now allocated to a local authority where previously sales not allocated to a local authority were omitted in the reports. We will monitor the impact of this over the coming months.
Average price by local authority for Scotland
In March 2018, the most expensive area to live in was City of Edinburgh, where the cost of an average house was £253,000. In contrast, the cheapest area to purchase a property was East Ayrshire, where an average house cost £95,000.
3.2 Average price change by property type
Average price change by property type for Scotland
| Property type | March 2018 | March 2017 | Difference |
|---|---|---|---|
| Detached | £254,661 | £238,716 | 6.7% |
| Semi-detached | £152,657 | £142,804 | 6.9% |
| Terraced | £121,637 | £113,009 | 7.6% |
| Flat or maisonette | £104,160 | £98,339 | 5.9% |
| All | £146,009 | £136,891 | 6.7% |
Download this table’s data (CSV, 1KB)
4. Sales volumes
Due to a period of 2 to 8 weeks between completion and registration of sales, volume figures for the most recent two months are not yet at a reliable level for reporting, so they are not included in the report.
Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read Revisions to the UK HPI data for more information.
4.1 Sales volumes by local authority
Sales volumes for Scotland by local authority
| Local authorities | January 2018 | January 2017 | Difference |
|---|---|---|---|
| Aberdeenshire | 216 | 287 | -24.7% |
| Angus | 113 | 130 | -13.1% |
| Argyll and Bute | 92 | 112 | -17.9% |
| City of Aberdeen | 191 | 255 | -25.1% |
| City of Dundee | 168 | 165 | 1.8% |
| City of Edinburgh | 733 | 783 | -6.4% |
| City of Glasgow | 740 | 714 | 3.6% |
| Clackmannanshire | 46 | 67 | -31.3% |
| Dumfries and Galloway | 152 | 145 | 4.8% |
| East Ayrshire | 128 | 115 | 11.3% |
| East Dunbartonshire | 134 | 151 | -11.3% |
| East Lothian | 112 | 146 | -23.3% |
| East Renfrewshire | 104 | 110 | -5.5% |
| Falkirk | 189 | 200 | -5.5% |
| Fife | 394 | 399 | -1.3% |
| Highland | 273 | 287 | -4.9% |
| Inverclyde | 79 | 78 | 1.3% |
| Midlothian | 104 | 116 | -10.3% |
| Moray | 86 | 128 | -32.8% |
| Na h-Eileanan Siar | 18 | 24 | -25.0% |
| North Ayrshire | 126 | 142 | -11.3% |
| North Lanarkshire | 286 | 312 | -8.3% |
| Orkney Islands | 25 | 20 | 25.0% |
| Perth and Kinross | 158 | 184 | -14.1% |
| Renfrewshire | 220 | 220 | 0.0% |
| Scottish Borders | 105 | 116 | -9.5% |
| Shetland Islands | 18 | 23 | -21.7% |
| South Ayrshire | 134 | 143 | -6.3% |
| South Lanarkshire | 388 | 406 | -4.4% |
| Stirling | 121 | 100 | 21.0% |
| West Dunbartonshire | 66 | 71 | -7.0% |
| West Lothian | 190 | 231 | -17.7% |
| Scotland | 5,909 | 6,380 | -7.4% |
Download this table’s data (CSV, 1KB)
4.2 Sales volumes
Sales volumes for Scotland over the past 5 years
| Date | Sales volumes for Scotland |
|---|---|
| January 2014 | 6,493 |
| January 2015 | 6,189 |
| January 2016 | 6,118 |
| January 2017 | 6,380 |
| January 2018 | 5,909 |
Download this chart’s data (CSV, 1KB)
5. Property status
New build and existing resold property for Scotland
| Property status | Average price January 2018 | Monthly change | Annual change |
|---|---|---|---|
| New build | £206,663 | 4.6% | 8.5% |
| Existing resold property | £144,952 | 1.1% | 6.4% |
Download this chart’s data (CSV, 1KB)
Note: since the October 2017 release, amendments have been made to our estimation model when calculating our provisional estimate. Find out further information and the impact of this change in methods used to produce the UK HPI.
6. Buyer status
First time buyer and former owner occupier for Scotland
| Type of buyer | Average price March 2018 | Monthly change | Annual change |
|---|---|---|---|
| First time buyer | £117,837 | 0.7% | 6.2% |
| Former owner occupier | £175,306 | 0.4% | 7.1% |
Download this chart’s data (CSV, 1KB)
7. Funding status
Cash and mortgage indicator for Scotland
| Funding status | Average price March 2018 | Monthly change | Annual change |
|---|---|---|---|
| Cash | £134,530 | 0.5% | 6.2% |
| Mortgage | £151,344 | 0.5% | 6.9% |
Download this chart’s data (CSV, 1KB)
8. Access the data
Download the data as CSV files or access it with our UK HPI tool.
Data revisions
View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.
9. About the UK House Price Index
The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.
Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.
Find out more about the UK House Price Index.
10. Contact for Scotland queries
Anne MacDonald, Land & Property Data Team, Registers of Scotland
Email Anne.MacDonald@ros.gov.uk
Telephone 0131 378 4991