What is my property worth now? April 2024
With some good news for property owners, and perhaps not so good news for those looking to get a foot on the property ladder, the latest provisional statistics just released from the UK House Price Index show that the average price of a property in Scotland in February 2024 was £188,000, an increase of 5.6% when compared to February 2023.
By comparison, the UK average house price was £281,000 which was an annual decrease of 0.2% on February 2023.
As the above image shows, in February 2024, the most expensive area to purchase a property remains the City of Edinburgh, where the average cost was £325,000. In contrast, the cheapest area to purchase a property was Inverclyde, where the average cost was £127,000.
Closer to home, the average house price in Highland Region in February 2024 was £206,789 – up from £203,287 in February 2023 – an increase of 1.7% – a smaller increase that the national average annual increase, but the region remains with a higher average house price than nationally.
If we look at property types, the annual changes are:
| Property type | House price level (£) | Annual house price percentage change |
| Detached | 338,000 | 7.3 |
| Semi-detached | 201,000 | 6.4 |
| Terraced | 157,000 | 4.7 |
| Flats or Maisonettes | 130,000 | 4.7 |
The volume of residential sales in Scotland in December 2023 was 7,148, and when compared with December 2022 this was an annual decrease of 7.6%, meaning less properties for sale in the market.
If we wish to discuss any aspect of your property purchase or sale please contact us on 01463 239393.