£800-a-month rise in value of detached homes in Scotland

The average price of a detached house in Scotland has increased by almost £100,000 over the past decade, with research showing a rise in value of more than £800 a month.

Detached homes were worth an average of £238,111 in the second quarter of this year – 9 per cent less than five years ago but 70 per cent more than in 2002, when the average value was £140,288.

Sign up to our daily newsletter

The i newsletter cut through the noise

Research by the Bank of Scotland showed that, over the past five years, detached properties had seen the smallest drop in value.

Nitesh Patel, housing economist at the bank, said: “The prices of those property types in Scotland that are less reliant on first-time buyers, such as detached homes, have been more resilient since the financial crisis in 2007.”

The biggest decline has been among flats and terraced homes, he added.