© Crown copyright 2018
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: firstname.lastname@example.org.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/publications/uk-house-price-index-scotland-may-2018/uk-house-price-index-scotland-may-2018
1. Headline statistics in May 2018
the average price of a property in Scotland was
the annual price change of a property in Scotland was
the monthly price change of a property in Scotland was
the index figure for Scotland (January 2015 = 100) was
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 June 2018 UK HPI will be published at 9.30am on Wednesday 15 August 2018. See the calendar of release dates.
2. Economic statement
Scotland house prices grew by 4.9% in the year to May 2018, down from 5.5% in the year to April 2018. Scotland house prices are growing quicker than the UK annual rate of 3.0% in the year to May 2018. On a seasonally adjusted basis, average house prices in Scotland decreased by 0.2% between April 2018 and May 2018, compared with a decrease of 0.1% during the same period a year earlier (April 2017 and May 2017).
The UK Property Transaction Statistics for May 2018 showed that on a non-seasonally adjusted basis, in Q1 2018, the number of transactions on residential properties with a value of £40,000 or greater in Scotland was 18,370. This is down 14.9% compared to Q1 2017.
In Scotland, all property types showed an increase in average price in May 2018 when compared with the same month in the previous year. Terraced houses showed the biggest increase, rising by 5.6% in the year to May 2018 to £123,000. The average price of Flats and maisonettes showed an increase of 4.6% in the year to May to £108,000, the smallest increase of all property types.
House prices have increased over the last year in 26 out of 32 local authority areas. West Dunbartonshire continues to show strong growth increasing by 12.9% in the year to May 2018 to £105,000. This was closely followed by City of Edinburgh where prices increased by 9.9% 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
In Scotland, the average price increased by 4.9% in the year to May 2018 (down from 5.5% in the year to April 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||May 2018||May 2017||Difference|
|Argyll and Bute||£144,552||£132,536||9.1%|
|City of Aberdeen||£158,706||£163,656||-3.0%|
|City of Dundee||£121,580||£115,355||5.4%|
|City of Edinburgh||£251,371||£228,787||9.9%|
|City of Glasgow||£126,529||£118,640||6.6%|
|Dumfries and Galloway||£124,599||£117,049||6.5%|
|Na h-Eileanan Siar||£106,073||£85,910||23.5%|
|Perth and Kinross||£179,277||£182,775||-1.9%|
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 May 2018, the most expensive area to live in was City of Edinburgh, where the cost of an average house was £251,000. In contrast, the cheapest area to purchase a property was East Ayrshire, where an average house cost £94,000.
3.2 Average price change by property type
Average price change by property type for Scotland
|Property type||May 2018||May 2017||Difference|
|Flat or maisonette||£108,414||£103,629||4.6%|
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||March 2018||March 2017||Difference|
|Argyll and Bute||145||169||-14.2%|
|City of Aberdeen||355||392||-9.4%|
|City of Dundee||188||223||-15.7%|
|City of Edinburgh||783||1,032||-24.1%|
|City of Glasgow||937||1,203||-22.1%|
|Dumfries and Galloway||203||217||-6.5%|
|Na h-Eileanan Siar||19||43||-55.8%|
|Perth and Kinross||248||268||-7.5%|
4.2 Sales volumes
Sales volumes for Scotland over the past 5 years
|Date||Sales volumes for Scotland|
5. Property status
New build and existing resold property for Scotland
|Property status||Average price March 2018||Monthly change||Annual change|
|Existing resold property||£142,703||-0.2%||5.8%|
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 May 2018||Monthly change||Annual change|
|First time buyer||£121,183||0.1%||5.0%|
|Former owner occupier||£177,349||0.1%||4.7%|
7. Funding status
Cash and mortgage indicator for Scotland
|Funding status||Average price May 2018||Monthly change||Annual change|
8. Access the data
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
Ailsa Robertson, Land & Property Data Team Manager, Registers of Scotland
Telephone 0131 659 6111 Ext. 6387