1. Headline statistics for December 2024

Estimates for the most recent months are provisional and are likely to be updated as more data is incorporated into the index. Read the revision policies.

2. Economic statement

Total transaction volumes and new build volumes available to calculate UK HPI estimates have increased recently. HM Land Registry has processed over 40% of HM Revenue & Customs’ provisional sales estimate for UK HPI’s first estimate in recent months, though transaction volumes for older periods and new build volumes remain lower than historical averages. Users should be aware that revisions may be larger than historically and should note the greater uncertainty around new build prices. Further information is available in HM Land Registry’s UK House Price Index summary.

Average house prices in Scotland increased by 6.9% in the 12 months to December 2024, to £189,000 (provisional estimate). This was up from 5.9% (revised estimate) in the 12 months to November 2024 and was higher than the average UK house price annual inflation of 4.6% (provisional estimate) in the 12 months to December 2024.

On a non-seasonally adjusted basis, average house prices in Scotland decreased by 0.5% between November 2024 and December 2024 compared with a decrease of 1.5% in the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland increased by 1.2% between November 2024 and December 2024.

Comparing the provisional UK HPI volume estimate for October 2023 with the provisional UK HPI volume estimate for October 2024, the volume of transactions increased by 19.7% in Scotland and increased by 23.7% in the UK.  

In Scotland, detached houses had the highest annual percentage change out of all property types, increasing by 9.3% in the 12 months to December 2024 to £356,000. Flats and maisonettes had the lowest annual percentage change, which increased by 4.5% in the 12 months to December 2024 to an average price of £133,000.

In Scotland, 31 of the 32 local authority areas showed an increase in average house prices in the 12 months to December 2024. The highest annual percentage change was in Inverclyde, where average house prices increased by 11.1% in the 12 months to December 2024 to £113,000. Excluding Na h-Eileanan Siar due to volatility from low sales volumes, the lowest annual percentage change was in the Scottish Borders, where average house prices increased by 1.6% in the 12 months to December 2024 to £176,000.

As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

3. Price change

3.1 Annual price change

Annual price change for Scotland over the past 5 years

In Scotland, average prices increased by 6.9% in the 12 months to December 2024 (provisional estimate), up from 5.9% in the 12 months to November 2024 (revised estimate).

Annual price change by local authority for Scotland

Low numbers of sales transactions in some local authorities, such as Orkney Islands, Na h-Eileanan Siar and Shetland Islands, can lead to volatility in the series.

While we make efforts to account for this volatility, the change in price in these local levels can be influenced by the type and number of properties sold in any given period.

Geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements.

Local authorities	December 2024	December 2023	Difference
Aberdeenshire	£208,707	£202,843	2.9%
Angus	£164,743	£158,557	3.9%
Argyll and Bute	£181,711	£171,551	5.9%
City of Aberdeen	£146,182	£141,912	3.0%
City of Dundee	£146,796	£136,398	7.6%
City of Edinburgh	£288,972	£270,167	7.0%
City of Glasgow	£184,206	£171,613	7.3%
Clackmannanshire	£161,847	£156,178	3.6%
Dumfries and Galloway	£160,116	£151,274	5.8%
East Ayrshire	£129,763	£119,185	8.9%
East Dunbartonshire	£258,625	£251,699	2.8%
East Lothian	£291,114	£279,061	4.3%
East Renfrewshire	£296,989	£287,246	3.4%
Falkirk	£166,548	£157,771	5.6%
Fife	£169,143	£162,129	4.3%
Highland	£211,326	£206,748	2.2%
Inverclyde	£112,517	£101,245	11.1%
Midlothian	£289,150	£268,849	7.6%
Moray	£196,900	£186,663	5.5%
Na h-Eileanan Siar	£151,633	£152,138	-0.3%
North Ayrshire	£127,516	£123,665	3.1%
North Lanarkshire	£149,170	£136,802	9.0%
Orkney Islands	£202,333	£187,862	7.7%
Perth and Kinross	£226,294	£211,735	6.9%
Renfrewshire	£156,452	£142,258	10.0%
Scottish Borders	£175,598	£172,756	1.6%
Shetland Islands	£191,083	£176,200	8.4%
South Ayrshire	£170,307	£158,407	7.5%
South Lanarkshire	£174,450	£166,013	5.1%
Stirling	£237,088	£214,567	10.5%
West Dunbartonshire	£126,422	£117,566	7.5%
West Lothian	£220,892	£208,080	6.2%
Scotland	£188,807	£176,538	6.9%

Average price by local authority for Scotland

In December 2024, the most expensive area to purchase a property was East Renfrewshire, where the average cost was £297,000. In contrast, the cheapest area to purchase a property was Inverclyde, where the average cost was £113,000.

3.2 Average price change by property type

Average price change by property type for Scotland

Property type	December 2024	December 2023	Difference
Detached	£355,539	£325,252	9.3%
Semi-detached	£213,573	£197,483	8.1%
Terraced	£171,453	£158,738	8.0%
Flat or maisonette	£132,826	£127,123	4.5%
All	£188,807	£176,538	6.9%

4. Sales volumes

The amount of time between the sale of a property and the registration of this information varies. It typically ranges between 2 weeks and 2 months but can be longer. Volume figures for the most recent 2 months are not yet at a reliable level for reporting, so they are not included in the report. Published transactions for recent months will increase as later registered transactions are incorporated into the index.

Sales volume data is also available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions involving the creation of a new register, such as new builds, are more complex and require more time to process. Read Revisions to the UK HPI data for more information.

4.1 Sales volumes by local authority

Sales volumes for Scotland by local authority

Comparing the provisional volume estimate for the current month with the revised volume estimate for the corresponding month in the previous year

Local authorities	October 2024	October 2023
Aberdeenshire	380	311
Angus	178	155
Argyll and Bute	153	152
City of Aberdeen	373	321
City of Dundee	243	184
City of Edinburgh	1,069	811
City of Glasgow	1,048	911
Clackmannanshire	62	59
Dumfries and Galloway	216	184
East Ayrshire	185	173
East Dunbartonshire	174	147
East Lothian	216	195
East Renfrewshire	144	147
Falkirk	275	226
Fife	587	504
Highland	362	347
Inverclyde	138	116
Midlothian	156	141
Moray	156	153
Na h-Eileanan Siar	32	32
North Ayrshire	220	213
North Lanarkshire	501	433
Orkney Islands	45	25
Perth and Kinross	300	249
Renfrewshire	379	285
Scottish Borders	206	170
Shetland Islands	24	25
South Ayrshire	232	164
South Lanarkshire	603	528
Stirling	184	133
West Dunbartonshire	124	113
West Lothian	275	222
Scotland	9,240	7,829

Note: The number of property transactions for October 2024 will increase as more transactions are incorporated into the index. See our Revisions Policy for more information.

Comparing the provisional UK HPI volume estimate for October 2023 with the provisional UK HPI volume estimate for October 2024, volume transactions increased by 19.7% in Scotland.

UK Property Transaction Statistics published by HM Revenue & Customs (which differ in coverage but are more complete for this period) report that in the 12 months to October 2024, on a non-seasonally adjusted basis, HMRC volume transactions increased by 19.7% in Scotland.

4.2 Sales volumes

Sales volumes for Scotland over the past 5 years

Date	Sales volumes for Scotland
October 2020	12,974
October 2021	10,474
October 2022	9,191
October 2023	7,829
October 2024	9,240

5. Property status

Transactions involving the creation of a new register, such as new builds, are more complex and need more time to process. This means they can take longer to appear in the land registers. The volume of new build transactions for the most recent 2 months are not at a reliable level for reporting the breakdown between new build and existing resold property, so they are not included in the report.

New build and existing resold property for Scotland

Property status	Average price October 2024	Monthly change	Annual change
New build	£339,414	-1.2%	19.1%
Existing resold property	£175,258	0.5%	3.4%

6. Buyer status

First time buyer and former owner occupier for Scotland

Type of buyer	Average price December 2024	Monthly change	Annual change
First time buyer	£154,134	-0.7%	6.3%
Former owner occupier	£236,991	-0.2%	7.7%

7. Funding status

Cash and mortgage indicator for Scotland

Funding status	Average price December 2024	Monthly change	Annual change
Cash	£173,752	-0.5%	5.8%
Mortgage	£196,782	-0.4%	7.6%

8. Access the data

Download the data as CSV files or access it with our UK HPI tool.

Data revisions

View any revisions to previously published data in the data downloads or find out more about revisions in our guidance About the UK HPI.

9. About the UK House Price Index

The UK House Price Index (UK HPI) is calculated by the Office for National Statistics and Land & Property Services Northern Ireland. Find out about the methodology used to create the UK HPI.

Data for the UK House Price Index is provided by HM Land Registry, Registers of Scotland, The Land & Property Services/Northern Ireland Statistics & Research Agency and the Valuation Office Agency.

Find out more about the UK House Price Index.

10. Contact for Scotland queries