The total market value of residential sales reached £24.3 billion, up 7% on the previous year and exceeding the £23.2bn peak recorded in 2007-08 (not adjusted for inflation).

The number of sales rose 5% to 104,408, while the median residential sale price increased 4%, from £190,000 to £198,000. Around two-thirds of all residential sales were for £250,000 or less.

Detached properties commanded the highest median price at £324,995, while flats remained the most affordable at £138,017. Flats also showed the slowest price growth over the past decade at 25%, compared with 44-50% for other property types. New build sales rose 8% to 10,290, accounting for one in ten residential transactions and £3.5bn in market value. Roughly 69% of sales were funded by a mortgage, with the remaining 31% being cash purchases.

Regional contrasts were pronounced. Glasgow City and the City of Edinburgh recorded the largest sales volumes, together accounting for 22% of all residential transactions. East Renfrewshire posted the highest median price among local authorities at £305,200, while Inverclyde, at £123,000, recorded both the lowest median and the strongest three-year growth at 29%.

Aberdeen City, Aberdeenshire and the Orkney Islands were the only authorities to see median prices fall over three years. High-value activity remained concentrated in the capital, with half of the ten postcode districts recording the most £1 million-plus sales located in Edinburgh.

Among Scotland’s cities, Edinburgh held the highest median price at £275,000 and Aberdeen the lowest at £123,500, the latter having shed 29% of its value over the decade. Accessible rural areas proved the most expensive of all area types at £280,500, reflecting a greater concentration of detached homes.

The non-residential market generated 7,684 sales worth £3.9bn. Commercial transactions, which made up 82% of non-residential value, rose 2% to 4,639. Agriculture sales climbed to their highest level since reporting began in 2015-16, while forestry and land sales declined.