Second rise in a row for house prices

The average price of a house in Scotland has increased for the second month in succession, new figures show.

The price – now £148,075 – has doubled since January 2000 when it was £73,754, according to the LSL Property Services/Acadametrics Scotland House Price Index (HPI).

Edinburgh had the highest average house prices in August this year at £214,843, followed by Aberdeen at £184,330. The average house price in Glasgow was £131,210.

In June, the average house price for the country was £146,931, and in July £147,415.

The average is calculated using data from the Registers of Scotland to give the actual price at which every residential property was bought in August.

The new index is not a forecast, and is not based on valuation estimates or asking prices. It is based on every single transaction, including those bought purely with cash and mortgage-financed sales.