Registers of Scotland (ROS) have just published their annual report and it has revealed the cheapest and most expensive areas of Scotland to buy a home.
As a non-ministerial department of the Scottish Government, Registers of Scotland has recorded trends in residential and commercial property sales for the last 20 years and as part of that work, they have tracked the median price of residential properties across Scotland’s 32 council areas in the last 12 months.
What is New in the Scottish Property Market?
Comparing 2023/24 to the previous year, the report shows that residential property sales in Scotland have dropped by 8% but the median price of a property has not changed, remaining at £185,000. Detached properties have the highest median price at £305,000 and flats the lowest at £128,500.
On the topic of flats, they have had the highest volume of sales but, over the past 10 years, they have shown the
slowest growth in prices at 29%, compared with around 41-48% for other house types. Which will likely be of interest to anyone with a property portfolio comprised of flats.
The Price of Property in Scotland’s Cities
The city market accounts for 31% of all residential property sales in Scotland and Edinburgh remains the most expensive city in Scotland to buy a property with a median property price of £265,000. Aberdeen is now the cheapest at £127,250
Check out the full breakdown below:
Aberdeen: £127,250
Dundee: £131,498
Dunfermline: £183,750
Edinburgh: £265,000
Glasgow: £173,925
Inverness: £187,000
Perth: £155,000
Stirling: £172,005
Rest of Scotland: £180,000
Scotland as a whole: £185,000
What Registers of Scotland has to say
Jennifer Henderson, Keeper of the Registers of Scotland, said: “At Registers of Scotland, we know the importance of accurate, reliable, and accessible public information.”
“We are proud to be able to include over 20 years of public data into this annual report which offers a unique insight into property market trends.”
“I anticipate this latest report will provide useful insights. The data held on our registers not only supports the people of Scotland with making important decisions about buying and selling property; it also informs policy development across Scotland, making it a crucial asset for the country.”
Are You Looking to Buy or Sell in Scotland?
If the news above is encouraging you to buy or sell a property then it is worth keeping in mind that every sale in Scotland has to have a corresponding home report on the condition of the property that includes issues like damp, woodworm, rot or structural issues alongside information on energy efficiency and other concerns.
If the Home Report highlights any property problem we would recommend a property survey from an accredited and qualified surveyor.
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