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Highland · report

Past price cycles in Highland

Sale prices have fallen by 3% or more 8 times since 2004. The deepest began in November 2007.

Deepest fall
−13.3%
Recovery from the low
20 months

Prices in Highland and the UK, indexed

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

  • Highland
  • United Kingdom
  • 100 = January 2004
Show the numbers
PeriodHighlandUnited Kingdom
Aug 2026273.3216.4
Jul 2026270.2215.7
Jun 2026268.1214.5
May 2026266.7215.7
Apr 2026261.3214.7
Mar 2026260.0212.9
Feb 2026256.7213.5
Jan 2026261.8213.0
Dec 2025262.0212.4
Nov 2025267.3214.4
Oct 2025263.9213.8
Sep 2025258.7213.6
Aug 2025254.6214.4
Jul 2025253.7213.1
Jun 2025256.7211.4
May 2025258.1209.3
Apr 2025255.5206.2
Mar 2025255.2212.4
Feb 2025249.6209.8
Jan 2025251.0210.0
Dec 2024251.6209.2
Nov 2024255.8209.6
Oct 2024259.7210.2
Sep 2024256.5209.8
Aug 2024256.5210.1
Jul 2024253.0208.0
Jun 2024251.6205.7
May 2024249.9204.9
Apr 2024246.4203.3
Mar 2024247.4202.2
Feb 2024249.5201.8
Jan 2024250.8202.9
Dec 2023251.6203.0
Nov 2023250.9204.8
Oct 2023251.7206.2
Sep 2023248.8207.1
Aug 2023245.7208.1
Jul 2023242.4207.0
Jun 2023245.5204.7
May 2023245.9203.9
Apr 2023250.4203.3
Mar 2023248.1202.8
Feb 2023248.2205.1
Jan 2023248.4206.8
Dec 2022249.1208.6
Nov 2022252.4210.3
Oct 2022250.2210.6
Sep 2022249.9210.6
Aug 2022248.9210.1
Jul 2022247.5208.4
Jun 2022247.0204.6
May 2022243.8202.1
Apr 2022243.1199.8
Mar 2022243.3197.5
Feb 2022240.0196.8
Jan 2022240.4196.6
Dec 2021235.4194.3
Nov 2021237.4193.3
Oct 2021231.1189.6
Sep 2021227.4194.5
Aug 2021221.9188.9
Jul 2021223.8183.4
Jun 2021222.3192.4
May 2021224.5182.7
Apr 2021219.5181.5
Mar 2021217.8184.2
Feb 2021212.0181.5
Jan 2021211.1181.0
Dec 2020211.6181.0
Nov 2020209.5179.6
Oct 2020207.9177.8
Sep 2020207.1176.3
Aug 2020207.1174.5
Jul 2020205.4172.8
Jun 2020207.6171.4
May 2020206.8169.0
Apr 2020204.7168.1
Mar 2020201.1169.9
Feb 2020201.5168.4
Jan 2020204.5169.3
Dec 2019203.7169.2
Nov 2019205.7169.4
Oct 2019205.4170.0
Sep 2019206.0170.5
Aug 2019203.8170.4
Jul 2019204.0169.8
Jun 2019204.0167.9
May 2019206.7167.2
Apr 2019203.4167.0
Mar 2019201.4165.8
Feb 2019196.0166.3
Jan 2019198.8166.7
Dec 2018199.4167.7
Nov 2018201.5168.1
Oct 2018202.1168.8
Sep 2018197.8169.0
Aug 2018198.4169.3
Jul 2018194.7168.8
Jun 2018197.8166.7
May 2018195.2165.6
Apr 2018193.3164.9
Mar 2018192.1163.4
Feb 2018191.6164.4
Jan 2018191.9163.9
Dec 2017193.0164.5
Nov 2017189.8163.9
Oct 2017192.2164.3
Sep 2017189.9164.2
Aug 2017192.9164.8
Jul 2017191.1164.1
Jun 2017189.4162.0
May 2017186.2160.6
Apr 2017185.9159.6
Mar 2017188.9157.1
Feb 2017187.3157.5
Jan 2017188.0157.1
Dec 2016185.7157.3
Nov 2016189.0157.0
Oct 2016187.8156.3
Sep 2016187.9156.8
Aug 2016186.0157.1
Jul 2016184.7157.1
Jun 2016183.7155.4
May 2016185.9153.9
Apr 2016187.1152.2
Mar 2016187.4151.6
Feb 2016184.3150.1
Jan 2016181.6150.0
Dec 2015180.3149.6
Nov 2015182.0149.1
Oct 2015184.4148.0
Sep 2015187.0147.8
Aug 2015187.9147.5
Jul 2015185.5146.1
Jun 2015184.0143.7
May 2015184.0142.6
Apr 2015181.1141.1
Mar 2015181.1139.8
Feb 2015178.9139.3
Jan 2015179.6139.2
Dec 2014178.6139.9
Nov 2014179.3139.6
Oct 2014181.7140.1
Sep 2014181.8140.3
Aug 2014180.4140.1
Jul 2014178.3138.5
Jun 2014176.9136.6
May 2014176.5135.4
Apr 2014177.3134.0
Mar 2014176.4131.1
Feb 2014175.3130.6
Jan 2014174.2130.1
Dec 2013172.7129.9
Nov 2013172.6128.7
Oct 2013172.0128.0
Sep 2013172.5128.6
Aug 2013171.3128.5
Jul 2013170.1127.5
Jun 2013169.6126.0
May 2013166.4125.0
Apr 2013164.4124.4
Mar 2013165.2123.1
Feb 2013165.3122.4
Jan 2013166.2122.4
Dec 2012164.2123.3
Nov 2012170.9123.5
Oct 2012173.8123.4
Sep 2012172.7124.3
Aug 2012168.8124.8
Jul 2012166.0124.6
Jun 2012167.7124.1
May 2012168.7122.9
Apr 2012167.0122.5
Mar 2012167.7121.2
Feb 2012168.1120.8
Jan 2012170.3121.1
Dec 2011169.9122.0
Nov 2011171.7122.5
Oct 2011175.7122.4
Sep 2011179.1123.8
Aug 2011176.2124.1
Jul 2011172.6124.0
Jun 2011175.1122.5
May 2011174.5122.3
Apr 2011181.5122.8
Mar 2011175.1120.9
Feb 2011180.8121.5
Jan 2011182.4122.1
Dec 2010188.4123.2
Nov 2010188.5123.4
Oct 2010184.9124.9
Sep 2010185.3126.3
Aug 2010182.5126.6
Jul 2010184.3126.6
Jun 2010180.6125.3
May 2010179.9124.7
Apr 2010173.3124.1
Mar 2010172.0122.6
Feb 2010174.4122.6
Jan 2010178.5122.3
Dec 2009181.0122.7
Nov 2009180.1121.9
Oct 2009177.1121.5
Sep 2009178.4120.7
Aug 2009177.1119.7
Jul 2009176.9118.6
Jun 2009171.9116.5
May 2009169.7115.4
Apr 2009165.9113.8
Mar 2009160.7112.8
Feb 2009162.1113.5
Jan 2009162.1114.8
Dec 2008168.3117.5
Nov 2008168.6119.3
Oct 2008170.7122.8
Sep 2008169.9125.3
Aug 2008172.1128.6
Jul 2008173.1131.3
Jun 2008173.1132.7
May 2008172.1134.5
Apr 2008169.6133.7
Mar 2008172.6133.5
Feb 2008170.2134.5
Jan 2008178.5135.6
Dec 2007179.4138.1
Nov 2007185.3138.3
Oct 2007181.1138.4
Sep 2007178.5138.7
Aug 2007173.2138.6
Jul 2007175.5137.8
Jun 2007174.3136.0
May 2007171.9134.6
Apr 2007165.2133.0
Mar 2007163.4130.4
Feb 2007163.9129.4
Jan 2007162.6129.0
Dec 2006160.2129.1
Nov 2006160.1127.5
Oct 2006161.7126.8
Sep 2006162.8126.1
Aug 2006158.6125.6
Jul 2006157.9124.6
Jun 2006156.8122.8
May 2006153.2121.6
Apr 2006146.0120.5
Mar 2006141.1117.9
Feb 2006140.4117.0
Jan 2006140.5116.8
Dec 2005141.7117.0
Nov 2005140.2116.3
Oct 2005138.2116.0
Sep 2005136.5116.2
Aug 2005137.4116.4
Jul 2005136.2115.9
Jun 2005133.6114.4
May 2005127.0113.5
Apr 2005120.9112.3
Mar 2005117.2110.8
Feb 2005117.8109.9
Jan 2005121.4110.0
Dec 2004121.0110.0
Nov 2004122.6110.9
Oct 2004120.3111.0
Sep 2004121.2110.2
Aug 2004121.0110.4
Jul 2004119.3109.2
Jun 2004112.8106.9
May 2004103.4105.0
Apr 200495.6103.8
Mar 200494.599.3
Feb 200493.399.0
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
January 2004February 2004−6.7%13
November 2004March 2005−4.4%42
November 2007March 2009−13.3%1620
November 2010December 2012−12.9%2547
October 2018February 2019−3.0%42
November 2022July 2023−4.0%812
October 2024February 2025−3.9%48
November 2025February 2026−4.0%34

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 Highland

Next 12 months

Sale prices have an 80% chance of landing between £233,583 and £265,199 by August 2027.

Expected, August 2027
£249,391
Chance of a rise
98%

Affordability

At the average sale price, a home costs £224,574. With 10% down and a 30-year mortgage, the payment is £1,036 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
31%

Buy or rent

Figures for Scotland: Highland 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

27.1% fewer homes were started in the last 12 months than in an average year of the past decade.

Started, 12 months
825
Per 1,000 residents
3.5

Foreign buyers

Figures for United Kingdom: Highland 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 298 while 885 homes were finished.

Homes finished, 2025
885
Population change, 2025
−298

Renovation

In 2026, 0% of the homes added came from existing buildings rather than new ones.

Homes from existing buildings, 2026
0%