It adds that 31 of the country’s 32 local authority areas posted rising prices over the last twelve months, driven by the post-pandemic search for space as more people work from home, coupled with the tight supply of larger houses.
Scottish house prices hit a new high of £213,646 in December, which contrasts with a value of £198,384 at the start of the year, the report says. December 2020 was the last month in which the nation’s average house price was below £200,000.
The monthly change in Scotland’s average house price in December saw a rise of some £900, or 0.4%, compared to a rise of £200 in November.
However, the survey points out that the annual rate of house price growth in December slowed for the third month in succession, standing at 7.7%, down from a peak of 13.1% in September last year.
It says that the number of homes that sold for £750,000 or higher fell from a peak of 127 – in September 2021 – to 74 such properties in December, but adds that this number is likely to rise as further purchases are processed by registers of Scotland over the next month.
Over a longer period, the report says Scottish average house prices have lifted by some 38% over the last 10 years, with the Lothians, in the Edinburgh commuter belt, seeing the highest rises.
Over the last decade average homes in Midlothian surged 62.2% to £265,139, East Lothian jumped 54.6% to £316,798 and West Lothian lifted 53.8% to £215,624.
Walker Fraser Steele business development manager Alan Penman says: “When you step back, as we have in this report, and cast your eye over what has happened to house prices in the last 10 years in Scotland, the percentage rise in Scotland’s average house price is some 38%.
“The last five years accounts for most of this growth and in particular the pandemic period when the demand for bigger properties to accommodate post-pandemic working and living needs and the lack of suitable stock have supported growth.
“The Lothians have benefitted most with Edinburgh’s commuter belt experiencing considerable activity during the pandemic as buyers seek plenty of space outside the city centre, but within reasonable commuting distance.”
