Average house prices in Scotland rose by 3.2% over the year to January, rising by £5,675 to £184,324, up from £178,649 in January 2018, according to the latest figures released by Your Move.
Transaction numbers for 2018 were slightly down compared to 2017 but the estate agent said there remained cause for optimism, with sales four per cent higher in the last quarter of the year than in the same period in 2017.
Edinburgh double digit growth
The report showed that more than half the increase in the average price over the last year can be traced to the capital on a weight-adjusted basis.
In Edinburgh prices rose 10.4% annually, taking the average up to £289,327 at the end of January.
This was the biggest increase in Scotland outside Clackmannanshire which was up 16 per cent, but based on only 40 sales.
It is also the seventh time in the last twelve months that Edinburgh has recorded double-digit annual house price growth.
Steve Hardaker, Your Move managing director in Scotland, said the market in Scotland continued to grow robustly with properties across all price brackets making it an incredibly attractive market.
Alan Penman, business development manager for Walker Fraser Steele, part of the LSL group of companies, said: “Edinburgh’s strength is remarkable in its own right, but compared to the rest of the UK and the other major cities it’s a phenomenon.
“We should be looking carefully now at how we can ensure adequate supply for a market that is seeing such strong demand.”