Scottish house price rises by 50% over the last decade

Average house prices in Scotland have risen by 50% over the last decade, latest research from estate and lettings agent DJ Alexander reveals.

But while average house prices have risen by 50% between February 2013 and February 2023 there are enormous variations across the country.

The estate agent, the largest in Scotland and part of The Lomand Group, says that in Aberdeen average prices have fallen by 16.3% while in Glasgow they are up 71.6%.

EXPANDING

The gap between Scotland’s two largest cities and the rest of the country is expanding with both Edinburgh and Glasgow soaring ahead of the rest of the country with increases of £129,054 and £69,538, respectively.

Inflation over the same period was 29.8% showing real terms increase in price of between 20.2% for Scotland as a whole to 41.8% in Glasgow.

Within different property types there has also been an enormous range of increase in values with detached homes substantially outperforming the rest of the market.

Across Scotland the average price of a detached home increased by 55.4% but in Edinburgh and Glasgow the increase over the last decade was 93.1% and 101.2% respectively.

UNDERPERFORMED

Flats have underperformed the whole market increasing by an average of 44.1% (below the 50% for all property) but in both Edinburgh and Glasgow prices are higher with increases of 58.4% and 62.9% respectively.

David Alexander (main picture), chief executive of DJ Alexander, says: “These figures highlight just how much average property prices have increased over the last decade.

“A rise of 50% when inflation is at under 30% means that real term values have increased substantially at a time when many felt that property prices were fairly stagnant.”

And he adds: “There may be rising concern that our two largest cities are becoming much more expensive than other parts of the country and prices are accelerating at a rate that may make them quite unaffordable.

“We have a broadly healthy property market but one that is perhaps now becoming divided by location more than at any time in the past.”