The latest Walker Fraser Steele House Price Index reveals that the average house price in Scotland reached £226,113 in September, marking a new record and a modest monthly increase of 0.2%, or £400.
The market’s steady climb reflects increased sales activity in August, the highest in two years, driven by limited new housing supply.
Scott Jack, regional development director at Walker Fraser Steele, noted the market’s gradual recovery: “Our data shows this month that average house prices in September grew by a modest £400 (0.2%) compared with August.
“The increase took average prices above £226,600 for the first time, meaning that Scotland’s housing market hit a new peak for the fifth time this year.”
Despite a recovering cost-of-living landscape, the September market remained cautious, with 18 out of 32 local authority areas reporting slight declines in prices. The annual rise stands at 2.0%, with Jack acknowledging broader economic concerns: “The Bank of England Base Rate cut was helpful for affordability and will doubtless ease some home owners’ payments but it is unlikely to provide a significant boost to home buyers.”
The report indicates that local price movements varied, with East Lothian and East Renfrewshire hitting new highs, bolstered by demand and limited housing availability. Further budget impacts on market confidence and mortgage pricing are expected to become evident in coming months.
