In comparison, the UK average house price experienced a more modest annual increase of 2.8% – reaching £293,000.

Comparing with the previous month, house prices in Scotland increased by 1.2% on a non-seasonally adjusted basis, whilst on a seasonally adjusted basis there was an increase of 0.8%.

The volume of residential sales in Scotland in June 2024 was 8,493. When compared with the first published figures for June 2023 this was an annual decrease of 7.9%.

Commenting on the Scottish figures, a Registers of Scotland spokesperson said: “The average house price for Scotland has reached £200,000 for the first time.

“This represents an increase of 5.4% in the 12 months to August 2024. This compares to an increase of 2.8% (to £293,000) in average house prices for the UK as a whole.”

The table below provides Scotland house prices and annual changes by property type.

The largest local authority increase was in East Renfrewshire where the average price increased by 11.2% to £306,000. The largest decrease was recorded in Argyll and Bute, where the average price decreased by 0.4% to £189,000.

In August 2024, the highest-priced area to purchase a property was City of Edinburgh, where the average price was £339,000. In contrast, the lowest-priced area to purchase a property was East Ayrshire, where the average price was £131,000.