Interactive Scottish house price map reveals tale of two regions as prices fall in only one area

Figures released by housing data company Zoopla show the percentage house price rises in each Scottish area, and the sole region where prices declined.

Dumfries and Galloway enjoyed the biggest bump in prices with Scotland’s fastest increase to date in 2024. Properties were up 2.4% overall, performing strongly against average. The Scottish Government announced last week that Galloway would be home to Scotland’s new national park.

At the other end of the scale - and indeed the other end of the country - homes in the far north of Scotland were the only ones to record an average fall in prices. The Kirkwall postcode recorded an average fall of 2.6% in house prices.

Interactive Map

No change was recorded in Galashiels.

Dumfries and Galloway’s performance was well ahead of both the average Scottish price rise (1.1%) and the equivalent change across the UK (1.2%).

Only three postal districts across the UK recorded higher increases: Belfast (3%), Llandrindod Wells in Wales (3.2%) and Oldham (2.9%).

Centre of Dumfries by drone - homes in Dumfries and Galloway recorded the biggest jump in price across the country | Getty Images

Reaction to Zoopla’s House Price Index

Commenting on the latest report, Richard Donnell, Executive Director at Zoopla says: “The housing market is starting to hot up after a stone cold 2023. There are clear signs of growing confidence amongst buyers and sellers with many more homes for sale and buyers paying an increased proportion of the asking price. We expect to see more sales but house price inflation will be kept in check by more supply and affordability pressures keeping a lid on buying power, especially across southern England.

“While we don’t expect to see any impact from the new Government, or the King’s Speech specifically, in the next 12-18 months, it is possible we will in the longer term. The housing market is essentially an extension of the UK economy. Government policies focused on economic growth that feeds into income growth will help support both home buyers and renters.”

He added that today’s Bank of England interest rate cut would be more significant in moving the market.

Impact of Bank of England’s interest rate cut

An autumn housing market boost is on the cards following the cut in the Bank of England's base rate, property experts have suggested.

Homeowners on tracker mortgage rates will see their annual payments cut by more than £340 on average as a result of the base rate reduction from 5.25% to 5%.

The turning point for the base rate, after a string of previous hikes, provides a ray of light to homeowners on deals which directly track the base rate.

It will also bring some relief to those sitting on the 700,000 fixed-rate mortgage deals which are due to end in the second half of this year - equating to around 4,000 homeowners per day potentially having a rate shock when their lower-rate deal ends.