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Scottish prices Head north

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House prices went up in Scotland by 8.6 per cent in the year to November 2020, HM Land Registry has reported.

This puts the average price of a property in Scotland at just under £166k.

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Scotland house prices were growing faster in November than in the UK as a whole, where annual rate of increase was put at 7.6 per cent. On a seasonally adjusted basis, average house prices in Scotland increased by 1.4 per cent between October and November 2020.

In Scotland, terraced houses showed the biggest increase out of all property types, rising by 10.0 per cent in the year to November 2020 to £140,000. The smallest average house price change of all property types was in flats and maisonettes, up by 6.8 per cent in the year to November 2020 to £117,000.

House prices increased over the year in 31 out of 32 local authority areas. The largest growth was in East Ayrshire where prices increased by 15.6 per cent in the year to November 2020 to £110,000. The biggest fall for year ending November 2020, was recorded in City of Aberdeen where average prices fell over the year by 3.4 per cent to £141,000.