Average house price rose 5.4% between April and May

The average price of a property in Scotland increased by 5.4% between April and May, data shows.

The average price was £171,448 in May compared to the UK average of £254,624, according to UK House Price Index provisional figures.

The figure for Scotland represents a 5.4% increase on the previous month and a 12.1% rise on May 2020, although the index urged caution in interpreting the annual figure due to a low number of transactions in May 2020.

In Scotland, terraced properties showed the largest increase in average house price, rising by 13.4% in the year to May 2021 to £145,290.

But again the index suggested “this figure may have been affected by the low numbers of transactions recorded in May 2020”.

Flats showed the smallest increase, rising by 10.4% in the year to May to £121,088.

Average price increases were recorded in all 32 local authorities, compared with the previous year.

The largest was in Inverclyde with a 20.2% jump to £111,911, while the smallest came in Angus, with the average price increasing 1.7% to £151,789.

Registers of Scotland accountable officer Janet Egdell said: “Prices continue their trend upwards in May, and the number of transactions has reverted to a more normal pattern in the first couple of months of this financial year.

“Volumes for the whole of last financial year recovered significantly in the second half, to reach 94% of the 2019-20 levels.”

The UK average price of £254,624 was an increase of 10% on May 2020 and an increase of 0.9% on the previous month.