The average price of a property in Scotland has hit a record £200,000 in August 2024, a 5.4% year-on-year increase, according to the latest UK House Price Index data.

Landlords in the UK appear to be selling up in record numbers, according to property website Rightmove, possibly driven by fears of a rise in capital gains tax (CGT) in this month’s budget.

Lower mortgage costs and more interest rate cuts could fuel a rise in house prices for the rest of this year, the Halifax has said.