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Moray · report

Past price cycles in Moray

Sale prices have fallen by 3% or more 10 times since 2004. The deepest began in July 2008.

Deepest fall
−14.7%
Recovery from the low
62 months

Prices in Moray and the UK, indexed

Average sale prices, both set to 100 in January 2004.

  • Moray
  • United Kingdom
  • 100 = January 2004
Show the numbers
PeriodMorayUnited Kingdom
Aug 2026295.7216.4
Jul 2026294.8215.7
Jun 2026296.6214.5
May 2026295.3215.7
Apr 2026293.8214.7
Mar 2026293.6212.9
Feb 2026289.4213.5
Jan 2026285.1213.0
Dec 2025280.4212.4
Nov 2025285.3214.4
Oct 2025290.5213.8
Sep 2025290.9213.6
Aug 2025285.3214.4
Jul 2025281.0213.1
Jun 2025277.0211.4
May 2025275.5209.3
Apr 2025270.4206.2
Mar 2025278.3212.4
Feb 2025280.4209.8
Jan 2025282.3210.0
Dec 2024280.1209.2
Nov 2024279.2209.6
Oct 2024283.7210.2
Sep 2024281.5209.8
Aug 2024280.5210.1
Jul 2024283.6208.0
Jun 2024283.1205.7
May 2024278.7204.9
Apr 2024274.5203.3
Mar 2024269.4202.2
Feb 2024269.6201.8
Jan 2024266.2202.9
Dec 2023271.4203.0
Nov 2023276.5204.8
Oct 2023278.1206.2
Sep 2023283.7207.1
Aug 2023281.6208.1
Jul 2023282.9207.0
Jun 2023277.4204.7
May 2023275.0203.9
Apr 2023267.2203.3
Mar 2023266.6202.8
Feb 2023271.5205.1
Jan 2023277.2206.8
Dec 2022273.9208.6
Nov 2022269.8210.3
Oct 2022271.1210.6
Sep 2022278.1210.6
Aug 2022277.1210.1
Jul 2022273.3208.4
Jun 2022264.3204.6
May 2022262.4202.1
Apr 2022257.8199.8
Mar 2022252.8197.5
Feb 2022245.6196.8
Jan 2022247.4196.6
Dec 2021251.2194.3
Nov 2021255.7193.3
Oct 2021250.2189.6
Sep 2021249.4194.5
Aug 2021244.6188.9
Jul 2021243.4183.4
Jun 2021232.2192.4
May 2021230.2182.7
Apr 2021230.9181.5
Mar 2021236.7184.2
Feb 2021236.4181.5
Jan 2021232.0181.0
Dec 2020231.2181.0
Nov 2020229.8179.6
Oct 2020225.1177.8
Sep 2020221.5176.3
Aug 2020220.5174.5
Jul 2020217.0172.8
Jun 2020224.0171.4
May 2020220.8169.0
Apr 2020222.6168.1
Mar 2020210.6169.9
Feb 2020207.0168.4
Jan 2020211.6169.3
Dec 2019215.4169.2
Nov 2019219.8169.4
Oct 2019215.9170.0
Sep 2019213.3170.5
Aug 2019213.5170.4
Jul 2019219.7169.8
Jun 2019225.4167.9
May 2019222.5167.2
Apr 2019218.0167.0
Mar 2019211.0165.8
Feb 2019213.5166.3
Jan 2019213.7166.7
Dec 2018216.5167.7
Nov 2018214.1168.1
Oct 2018214.9168.8
Sep 2018215.8169.0
Aug 2018217.5169.3
Jul 2018219.2168.8
Jun 2018219.6166.7
May 2018221.3165.6
Apr 2018219.4164.9
Mar 2018217.5163.4
Feb 2018215.7164.4
Jan 2018212.9163.9
Dec 2017212.7164.5
Nov 2017211.8163.9
Oct 2017212.4164.3
Sep 2017212.5164.2
Aug 2017212.8164.8
Jul 2017213.7164.1
Jun 2017210.6162.0
May 2017210.0160.6
Apr 2017204.4159.6
Mar 2017204.9157.1
Feb 2017202.4157.5
Jan 2017206.9157.1
Dec 2016209.9157.3
Nov 2016210.5157.0
Oct 2016211.9156.3
Sep 2016206.7156.8
Aug 2016208.9157.1
Jul 2016202.6157.1
Jun 2016205.1155.4
May 2016197.0153.9
Apr 2016198.1152.2
Mar 2016198.4151.6
Feb 2016199.1150.1
Jan 2016198.2150.0
Dec 2015196.3149.6
Nov 2015197.7149.1
Oct 2015199.1148.0
Sep 2015196.0147.8
Aug 2015197.5147.5
Jul 2015196.1146.1
Jun 2015198.3143.7
May 2015196.6142.6
Apr 2015193.4141.1
Mar 2015193.4139.8
Feb 2015195.0139.3
Jan 2015198.1139.2
Dec 2014196.7139.9
Nov 2014196.8139.6
Oct 2014195.6140.1
Sep 2014194.8140.3
Aug 2014192.5140.1
Jul 2014189.0138.5
Jun 2014187.0136.6
May 2014184.7135.4
Apr 2014183.2134.0
Mar 2014184.3131.1
Feb 2014186.5130.6
Jan 2014190.7130.1
Dec 2013187.1129.9
Nov 2013184.4128.7
Oct 2013184.7128.0
Sep 2013184.3128.6
Aug 2013187.2128.5
Jul 2013186.2127.5
Jun 2013191.7126.0
May 2013185.3125.0
Apr 2013181.6124.4
Mar 2013181.4123.1
Feb 2013184.6122.4
Jan 2013191.1122.4
Dec 2012184.1123.3
Nov 2012183.4123.5
Oct 2012180.6123.4
Sep 2012184.3124.3
Aug 2012190.2124.8
Jul 2012191.0124.6
Jun 2012193.2124.1
May 2012188.3122.9
Apr 2012185.7122.5
Mar 2012182.5121.2
Feb 2012182.6120.8
Jan 2012180.5121.1
Dec 2011182.2122.0
Nov 2011183.6122.5
Oct 2011183.7122.4
Sep 2011183.8123.8
Aug 2011180.4124.1
Jul 2011186.5124.0
Jun 2011182.0122.5
May 2011180.3122.3
Apr 2011171.5122.8
Mar 2011185.6120.9
Feb 2011188.1121.5
Jan 2011192.3122.1
Dec 2010185.6123.2
Nov 2010187.3123.4
Oct 2010186.7124.9
Sep 2010183.7126.3
Aug 2010186.5126.6
Jul 2010189.2126.6
Jun 2010194.4125.3
May 2010192.6124.7
Apr 2010194.1124.1
Mar 2010192.5122.6
Feb 2010193.4122.6
Jan 2010197.7122.3
Dec 2009197.3122.7
Nov 2009197.9121.9
Oct 2009192.3121.5
Sep 2009195.5120.7
Aug 2009197.0119.7
Jul 2009198.2118.6
Jun 2009194.3116.5
May 2009193.8115.4
Apr 2009186.1113.8
Mar 2009189.9112.8
Feb 2009189.6113.5
Jan 2009188.8114.8
Dec 2008185.6117.5
Nov 2008186.6119.3
Oct 2008198.5122.8
Sep 2008199.0125.3
Aug 2008200.3128.6
Jul 2008201.0131.3
Jun 2008201.0132.7
May 2008190.1134.5
Apr 2008189.1133.7
Mar 2008187.8133.5
Feb 2008197.8134.5
Jan 2008197.5135.6
Dec 2007200.7138.1
Nov 2007196.1138.3
Oct 2007197.7138.4
Sep 2007197.6138.7
Aug 2007198.0138.6
Jul 2007192.5137.8
Jun 2007180.2136.0
May 2007177.5134.6
Apr 2007170.2133.0
Mar 2007173.8130.4
Feb 2007174.2129.4
Jan 2007173.7129.0
Dec 2006172.5129.1
Nov 2006166.1127.5
Oct 2006167.6126.8
Sep 2006164.2126.1
Aug 2006164.3125.6
Jul 2006160.3124.6
Jun 2006156.4122.8
May 2006151.8121.6
Apr 2006142.3120.5
Mar 2006140.6117.9
Feb 2006137.7117.0
Jan 2006143.3116.8
Dec 2005145.5117.0
Nov 2005147.6116.3
Oct 2005149.0116.0
Sep 2005143.0116.2
Aug 2005143.1116.4
Jul 2005138.1115.9
Jun 2005139.0114.4
May 2005133.0113.5
Apr 2005127.5112.3
Mar 2005122.4110.8
Feb 2005120.7109.9
Jan 2005123.7110.0
Dec 2004123.6110.0
Nov 2004121.3110.9
Oct 2004119.2111.0
Sep 2004118.2110.2
Aug 2004117.6110.4
Jul 2004112.9109.2
Jun 2004111.7106.9
May 2004110.2105.0
Apr 2004110.0103.8
Mar 2004104.799.3
Feb 2004103.499.0
Jan 2004100.0100.0

Every fall of 3% or more

From the peak to the lowest month after it, and how long prices took to get back.

PeakLowFallMonths fallingMonths to recover
October 2005February 2006−7.6%43
December 2007March 2008−6.4%33
July 2008April 2011−14.7%3362
October 2016February 2017−4.5%45
May 2018March 2019−4.6%102
June 2019February 2020−8.1%89
November 2021February 2022−4.0%32
September 2022March 2023−4.2%64
September 2023January 2024−6.1%419
September 2025December 2025−3.6%33

The UK House Price Index goes back to 1968 for the UK, its nations and England's regions, to 1995 for councils in England and Wales, to 2004 in Scotland and to 2005 in Northern Ireland, where it is quarterly. A fall counts once prices drop 3% below a peak, and ends when they are back at it.

Other reports for Moray

Next 12 months

Sale prices have an 80% chance of landing between £196,985 and £227,117 by August 2027.

Expected, August 2027
£212,051
Chance of a rise
77%

Affordability

At the average sale price, a home costs £203,371. With 10% down and a 30-year mortgage, the payment is £938 a month. The UK sets no cap on the payment; no more than 15% of new mortgages may lend over 4.5 times income.

Payment, two incomes
17%
Payment, one income
33%

Buy or rent

Figures for Scotland: Moray has no reliable figures of its own.

Owning the average home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the average sale price; rent is the average of all private tenancies. Repaying the loan is saving, so it is left out.

Rent per month
£1,011
Owning per month
£934

New homes

15.6% fewer homes were started in the last 12 months than in an average year of the past decade.

Started, 12 months
306
Per 1,000 residents
3.2

Foreign buyers

Figures for United Kingdom: Moray has no reliable figures of its own.

Buyers living abroad bought 1.8% of the homes sold here in the four quarters to Q1 2025.

Bought by buyers abroad, 12 months
1.8%

People and new homes

In 2025 the population fell by 293 while 247 homes were finished.

Homes finished, 2025
247
Population change, 2025
−293

Renovation

In 2026, 3% of the homes added came from existing buildings rather than new ones.

Homes from existing buildings, 2026
3%