The Annual Property Market Report has been published by Registers of Scotland (RoS) revealing that in the last 10 years the value of the Scottish residential property market has increased by 45%, from £15.7bn to £22.7bn.
According to the latest research, the average price of a residential property in Scotland reached 190,000 in 2024-25, an increase of 3% from £185,000 in 2023-24.
Some 99,975 residential property sales were recorded in Scotland, an increase of 7% on 2023-24, while the total value of residential property sales in Scotland – £22.7bn – represents an increase of 10% on 2023-24.
Of Scotland’s eight cities, Glasgow showed the largest residential price increase at 62% over the decade. Aberdeen was the only city where the average price decreased, falling by 27%.
Prices of flats showed the lowest growth at 26% over the 10-year period, compared with the highest growth at 45% for semi-detached properties.
Meanwhile, over the past 10 years, the average price for new builds increased by 51% over the decade, compared with 38% price growth over all residential sales.
However, the total market value of new build residential sales fell by 4% in 2024-25, despite an increase in median prices of 3% from £300,000 to £310,000. This drop was driven by a 7% decrease in the volume of sales. In 2024-25, 9% of residential property sales in Scotland were new builds.
A RoS spokesperson said: “The Registers of Scotland Property Market Report is an essential resource for industry professionals, journalists, policymakers, and researchers seeking in-depth insights into Scotland’s dynamic property market.
“In 2024-25 the total value of residential sales was £22.7bn, an increase of 10% when compared with 2023-24, and an increase of 45% when compared with 2014-15.”
Read the orginal article: https://propertyindustryeye.com/housing-market-value-up-45-in-last-decade/
