Scottish house prices rocket over past five years

The average price of a semi-detached house in Scotland has risen by over £40,000 in the last five years.

Picture: PA
Picture: PA

Research by the Bank of Scotland found the average price has grown from £130,784 in 2013 to £172,423 in 2018, an increase of 32%.

Over the same time, flats have seen average prices rise by £26,995 (26%) while detached homes recorded an increase of £43,131 (9%).

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The study found flats remain the most popular property type among Scottish first-time buyers, making up over 40% of first-time sales.

The popularity differs with the rest of the UK where terraced homes are the most popular purchases among first-time buyers (37%), with semi-detached homes being the second most popular choice (29%).

Flats are the third most popular property type at 22% across Britain.

The average price of a flat in Scotland stands at £132,386.

Graham Blair, mortgage director at Bank of Scotland, said: "Despite the price rising by over a quarter in the last five years, flats remain the most popular choice among Scotland's first-time buyers, which is different compared to the rest of the UK.

"Those who already own homes will be eyeing their next move with nearly a third of homemovers looking to step up to a detached home."

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