The average price of property in Scotland has risen by more than 10 per cent in the past year.
According to the latest data, the value of an average home in January 2022 was £182,786, an increase of 10.8% on January 2022.
Compared with the previous month, house prices in Scotland increased by 2.2% between December 2021 and January 2022.
The UK average house price was £273,762, which was an increase of 9.6% on January 2022 and a increase of 0.4% on the previous month.
READ MORE: UK house prices surge at fastest pace since 2007
The volume of residential sales in Scotland in November 2021 was 9,457, an decrease of 20.1% on the original provisional estimate for November 2020 and an increase of 4.0% on November 2019.
This compares with decreases of 50.4% in England and 35.3% in Wales to November 2021, whilst sales volumes increased 62.6% in Northern Ireland analysing Quarter 3 2021, relative to the same quarter in the previous year.
Business Development Director Kenny Crawford said: “The average price of a property in Scotland in January 2022 was £182,786, slightly lower than peak reported in November 2021 which, at £183,204, was the highest reported for any month since January 2004, from when Scottish data for the UK HPI was first available.
“Over the year as a whole, from December 2020 to the end of November 2021, the number of transactions remains high at 34.7% higher than the previous year which was affected by COVID-19 measures and 13.0% higher than the year before (pre-COVID-19) from December 2018 to November 2019.”
In Scotland, detached properties showed the biggest increase out of all property types, rising by 14.9 in the year to January 2022 to £329,106.
Flats showed the smallest increase, rising by 7.3% in the year to January 2022 to £126,026.
READ MORE: Re-evaluation of living circumstances continue despite rising property prices
Average price increases were recorded in all 32 local authorities, when comparing prices with the previous year.
The largest increase was in West Lothian where the average price increased by 17.2% to £202,668 . The smallest increase was recorded in City of Aberdeen, where the average price increased by 0.4% to £145,499.
In January 2022, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £310,281.
In contrast, the lowest-priced area to purchase a property was East Ayrshire, where the average price was £122,405.
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