House Price Index //

WFS House Price Index (Scotland) – November 2020

Understand the changes in transaction numbers and average house prices across Scotland in November 2020.

Highlights from the November House Price Index:

  • Transactions at highest level for seven years
  • House prices up by 3.1% in the month – largest increase since March 2015
  • 22 local authorities reach record average house prices in the month – itself a record
  • 29 of the 32 authorities see prices rise over month and year

Note: The Walker Fraser Steele House Price Index (Scotland) was formerly the Your Move Acadata House Price Index. Content and methodology are unchanged. Please refer to the Notes at the end of the report for more information.

Alan Penman, business development manager at Walker Fraser Steele,
comments:

“Rising house prices showed no sign of slowing down in November, with the average house price in Scotland up by 3.1% – the largest monthly increase since March 2015. The growth was felt across the board, with 29 of the 32 (91%) local authority areas seeing month-on-month price increases.

“Additionally, transactions numbers remain strong, with our data showing that October volumes surpassed the monthly totals of the previous six years. The busy market reflects an increase in the demand for homes and confirms widespread price growth, rather than for a small number of
purchases at the top end of the market.

“Despite the monthly growth, the activity pause in the first lockdown caused overall transaction numbers from January to October 2020 to be down 27% from the same period last year.”

Summary of regional house price changes:

Note: The monthly Walker Fraser Steele House Price Index reports on transaction numbers and the movement of average house prices in Scotland, including regional data. The Index uses:

  • The actual prices at which every residential property in Scotland was transacted, including prices for properties bought with cash, using the data provided by Registers of Scotland as opposed to valuation estimates or asking prices
  • The price of every single relevant transaction, as opposed to prices based upon samples.