According to the latest data from Registers of Scotland, 2020 saw the average house price in parts of Scotland jump as high as 20% despite the outburst of the Coronavirus pandemic. We can see that house prices across Scotland rose by 8.4%, averaging £162,983 according to the Office for National Statistics. And, our capital city remained the most expensive place to buy in 2020, with prices rising by 5.3% – averaging at £236,000.
Capital appreciation always sparks vigorous debate and thus the news will be bittersweet for many. It is, however, welcome news for those Landlords who have had a challenging year of rent reductions, voids and over-supply issues impacting on rental yields.