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Scottish Borders · report

Past price cycles in Scottish Borders

Sale prices have fallen by 3% or more 9 times since 2004. The deepest began in August 2007.

Deepest fall
−19.6%
Recovery from the low
53 months

Prices in Scottish Borders and the UK, indexed

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

  • Scottish Borders
  • United Kingdom
  • 100 = January 2004
Show the numbers
PeriodScottish BordersUnited Kingdom
Aug 2026272.4216.4
Jul 2026269.5215.7
Jun 2026264.7214.5
May 2026258.0215.7
Apr 2026257.2214.7
Mar 2026255.4212.9
Feb 2026258.3213.5
Jan 2026254.7213.0
Dec 2025258.5212.4
Nov 2025261.3214.4
Oct 2025262.9213.8
Sep 2025260.9213.6
Aug 2025263.0214.4
Jul 2025258.1213.1
Jun 2025255.7211.4
May 2025252.2209.3
Apr 2025245.7206.2
Mar 2025249.0212.4
Feb 2025244.7209.8
Jan 2025247.2210.0
Dec 2024241.9209.2
Nov 2024246.1209.6
Oct 2024250.7210.2
Sep 2024255.9209.8
Aug 2024250.4210.1
Jul 2024247.0208.0
Jun 2024241.9205.7
May 2024242.7204.9
Apr 2024243.1203.3
Mar 2024241.9202.2
Feb 2024238.5201.8
Jan 2024241.6202.9
Dec 2023241.3203.0
Nov 2023241.3204.8
Oct 2023237.6206.2
Sep 2023238.8207.1
Aug 2023240.3208.1
Jul 2023244.0207.0
Jun 2023243.3204.7
May 2023237.9203.9
Apr 2023237.5203.3
Mar 2023237.1202.8
Feb 2023238.7205.1
Jan 2023239.7206.8
Dec 2022239.0208.6
Nov 2022248.3210.3
Oct 2022250.8210.6
Sep 2022253.0210.6
Aug 2022248.4210.1
Jul 2022239.9208.4
Jun 2022242.4204.6
May 2022237.5202.1
Apr 2022242.2199.8
Mar 2022235.7197.5
Feb 2022237.9196.8
Jan 2022236.7196.6
Dec 2021234.0194.3
Nov 2021233.5193.3
Oct 2021237.6189.6
Sep 2021237.6194.5
Aug 2021235.8188.9
Jul 2021224.4183.4
Jun 2021218.0192.4
May 2021211.0182.7
Apr 2021206.9181.5
Mar 2021211.0184.2
Feb 2021212.8181.5
Jan 2021213.0181.0
Dec 2020210.6181.0
Nov 2020209.5179.6
Oct 2020203.6177.8
Sep 2020194.3176.3
Aug 2020184.0174.5
Jul 2020183.2172.8
Jun 2020187.9171.4
May 2020192.5169.0
Apr 2020193.7168.1
Mar 2020194.9169.9
Feb 2020194.1168.4
Jan 2020195.6169.3
Dec 2019192.7169.2
Nov 2019191.2169.4
Oct 2019188.6170.0
Sep 2019186.1170.5
Aug 2019185.7170.4
Jul 2019181.1169.8
Jun 2019181.0167.9
May 2019178.2167.2
Apr 2019182.4167.0
Mar 2019177.6165.8
Feb 2019178.7166.3
Jan 2019177.3166.7
Dec 2018187.9167.7
Nov 2018190.3168.1
Oct 2018190.6168.8
Sep 2018186.0169.0
Aug 2018185.8169.3
Jul 2018185.6168.8
Jun 2018183.9166.7
May 2018179.4165.6
Apr 2018179.4164.9
Mar 2018180.4163.4
Feb 2018184.5164.4
Jan 2018189.2163.9
Dec 2017188.1164.5
Nov 2017186.9163.9
Oct 2017189.1164.3
Sep 2017190.1164.2
Aug 2017191.5164.8
Jul 2017186.0164.1
Jun 2017184.4162.0
May 2017179.3160.6
Apr 2017171.4159.6
Mar 2017167.2157.1
Feb 2017166.6157.5
Jan 2017172.7157.1
Dec 2016180.2157.3
Nov 2016187.1157.0
Oct 2016184.8156.3
Sep 2016178.1156.8
Aug 2016176.6157.1
Jul 2016180.5157.1
Jun 2016172.4155.4
May 2016170.9153.9
Apr 2016165.6152.2
Mar 2016178.9151.6
Feb 2016176.0150.1
Jan 2016179.8150.0
Dec 2015176.3149.6
Nov 2015177.1149.1
Oct 2015177.2148.0
Sep 2015180.0147.8
Aug 2015180.1147.5
Jul 2015175.5146.1
Jun 2015173.8143.7
May 2015182.4142.6
Apr 2015181.0141.1
Mar 2015176.9139.8
Feb 2015169.1139.3
Jan 2015175.7139.2
Dec 2014180.9139.9
Nov 2014182.1139.6
Oct 2014178.7140.1
Sep 2014177.1140.3
Aug 2014173.5140.1
Jul 2014173.7138.5
Jun 2014166.2136.6
May 2014167.1135.4
Apr 2014163.2134.0
Mar 2014167.2131.1
Feb 2014164.5130.6
Jan 2014167.8130.1
Dec 2013167.4129.9
Nov 2013175.3128.7
Oct 2013178.7128.0
Sep 2013180.9128.6
Aug 2013174.4128.5
Jul 2013168.9127.5
Jun 2013167.5126.0
May 2013163.5125.0
Apr 2013156.9124.4
Mar 2013151.4123.1
Feb 2013153.5122.4
Jan 2013159.7122.4
Dec 2012166.8123.3
Nov 2012171.9123.5
Oct 2012170.0123.4
Sep 2012162.6124.3
Aug 2012161.5124.8
Jul 2012162.2124.6
Jun 2012167.9124.1
May 2012166.7122.9
Apr 2012164.0122.5
Mar 2012162.4121.2
Feb 2012164.4120.8
Jan 2012169.3121.1
Dec 2011172.8122.0
Nov 2011174.3122.5
Oct 2011176.1122.4
Sep 2011177.1123.8
Aug 2011179.4124.1
Jul 2011185.2124.0
Jun 2011188.2122.5
May 2011180.9122.3
Apr 2011172.2122.8
Mar 2011165.1120.9
Feb 2011168.2121.5
Jan 2011169.3122.1
Dec 2010170.1123.2
Nov 2010169.8123.4
Oct 2010173.0124.9
Sep 2010178.4126.3
Aug 2010179.1126.6
Jul 2010179.2126.6
Jun 2010173.5125.3
May 2010172.1124.7
Apr 2010168.6124.1
Mar 2010168.2122.6
Feb 2010169.3122.6
Jan 2010171.8122.3
Dec 2009177.8122.7
Nov 2009180.9121.9
Oct 2009181.0121.5
Sep 2009177.7120.7
Aug 2009169.9119.7
Jul 2009169.8118.6
Jun 2009169.2116.5
May 2009168.5115.4
Apr 2009160.5113.8
Mar 2009160.3112.8
Feb 2009157.9113.5
Jan 2009163.1114.8
Dec 2008169.0117.5
Nov 2008172.2119.3
Oct 2008180.8122.8
Sep 2008182.1125.3
Aug 2008186.8128.6
Jul 2008184.2131.3
Jun 2008181.8132.7
May 2008177.6134.5
Apr 2008175.2133.7
Mar 2008171.4133.5
Feb 2008173.1134.5
Jan 2008174.2135.6
Dec 2007180.4138.1
Nov 2007184.5138.3
Oct 2007187.5138.4
Sep 2007186.6138.7
Aug 2007188.3138.6
Jul 2007185.3137.8
Jun 2007178.3136.0
May 2007166.3134.6
Apr 2007163.7133.0
Mar 2007161.9130.4
Feb 2007169.3129.4
Jan 2007164.2129.0
Dec 2006170.0129.1
Nov 2006167.2127.5
Oct 2006164.9126.8
Sep 2006164.5126.1
Aug 2006159.3125.6
Jul 2006157.5124.6
Jun 2006148.0122.8
May 2006145.5121.6
Apr 2006143.0120.5
Mar 2006141.8117.9
Feb 2006143.4117.0
Jan 2006146.1116.8
Dec 2005150.2117.0
Nov 2005153.8116.3
Oct 2005149.2116.0
Sep 2005143.2116.2
Aug 2005136.9116.4
Jul 2005138.5115.9
Jun 2005131.1114.4
May 2005130.6113.5
Apr 2005124.6112.3
Mar 2005122.1110.8
Feb 2005119.0109.9
Jan 2005128.6110.0
Dec 2004132.7110.0
Nov 2004134.2110.9
Oct 2004128.0111.0
Sep 2004127.6110.2
Aug 2004123.5110.4
Jul 2004116.0109.2
Jun 2004112.3106.9
May 2004108.7105.0
Apr 2004105.1103.8
Mar 2004101.199.3
Feb 200497.899.0
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
November 2004February 2005−11.3%35
November 2005March 2006−7.8%44
December 2006March 2007−4.7%33
August 2007March 2013−19.6%6753
August 2017January 2019−7.4%1711
January 2020July 2020−6.4%63
September 2022March 2023−6.3%618
September 2024December 2024−5.5%37
August 2025January 2026−3.2%55

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 Scottish Borders

Next 12 months

Sale prices have an 80% chance of landing between £198,268 and £227,904 by August 2027.

Expected, August 2027
£213,086
Chance of a rise
94%

Affordability

At the average sale price, a home costs £195,045. With 10% down and a 30-year mortgage, the payment is £900 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
16%
Payment, one income
32%

Buy or rent

Figures for Scotland: Scottish Borders 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

17.2% fewer homes were started in the last 12 months than in an average year of the past decade.

Started, 12 months
228
Per 1,000 residents
2.0

Foreign buyers

Figures for United Kingdom: Scottish Borders 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 390 while 124 homes were finished.

Homes finished, 2025
124
Population change, 2025
−390

Renovation

In 2026, 28% of the homes added came from existing buildings rather than new ones.

Homes from existing buildings, 2026
28%