Following a run of strong performance, Scotland’s housing market recorded its first monthly decline in average prices this year, according to Walker Fraser Steele’s latest House Price Index, powered by Acadata.
The data shows average prices in May fell by nearly £1,700 compared to April, settling at £230,700. While this represents a 1.8% annual increase, the figure is down from April’s 2.9% year-on-year growth.
The regional picture was mixed. Fewer local authorities reported monthly gains than usual, while declines were led by Aberdeenshire (-6.7%) and Shetland (-6.1%).
However, nine local authorities—mainly in the middle and lower price bands—still reached new record highs in May. Around half of all local authorities have hit fresh peaks so far this year.
Scott Jack, regional development director at Walker Fraser Steele, said: “Sales activity has softened slightly, with May’s estimated transactions down 7% year-on-year.
“However, the broader outlook remains positive. Falling mortgage costs, steady wage growth, and a high proportion of cash buyers continue to support the market, which is expected to remain in positive territory year-on-year through the rest of 2025.”
