Annual house price growth hit 6.2% in March, according to the latest Walker Fraser Steele Acadata House Price Index (Scotland).
Overall 31 of 32 Local Authority Areas continue to see price increases over the past 12
months.
The average home in Scotland now costs £218,992.
Scott Jack, regional development director at Walker Fraser Steele, said: “Our data this month shows Scottish house prices continue to edge upwards. Modestly positive increases across the board continue to be the trend.
“The average house price in Scotland has increased by some £12,700 – or 6.2% – over the last twelve months, to the end of March.
“The average price paid, £218,992, sets another record and is the seventh time that this has happened in the last twelve months.
“On a monthly basis, prices in March 2022 rose by 0.5%, or close to £1,120. This monthly increase is lower than the revised 1.2% recorded in February, but surpasses the 0.1% that was seen in December 2021, three months earlier.
“It appears that the lack of good stock coming onto the market continues to support prices. This is in the face of some significant cost-of-living challenges too.
“We cannot know what that means for future performance, but we do know that high inflation makes property an attractive asset for investors when other assets do not offer such great returns. While you might think the future is uncertain, regional markets will perform differently for very specific reasons (think Aberdeen and oil) driving national averages.
“In our data, 31 of the 32 local authority areas in Scotland saw their average prices rise over the previous twelve months, one more than in February. On a monthly basis, on the mainland, the largest increase in prices was in Argyll and Bute, where values rose across all property types except for flats.”
