Scotland house prices June 19
The graph shows the average house price in Scotland over the last five years. The two main features of the graph are firstly: the sudden rise in average house prices that took place in March 2015, one month ahead of the introduction of the then new stamp duty on house purchases, known as LBTT.
The second feature of the graph is that prices can be seen to have risen at a near constant rate from June 2015 onward, with a few minor oscillations since February 2018. We can note that prices in June 2019 are on the ‘up’, and are above the long-term trend of the last five years. We have calculated that the compound rate of growth in house prices over this five year period is 2.9% – ahead of the CPIH inflation index, which in June 2019 stood at 1.9%, indicating that house prices in Scotland are rising in ‘real’ terms.