"This previous distortion in property prices goes some way to explaining the seemingly significant annual price increase we saw this June."
The Your Move data shows that prices flattened slightly in the run up to the Brexit vote, with the latest RICS survey for Scotland showing a dip in new buyer enquires and new vendor instructions.
However Your Move says this flattening could be the result of seasonal trends in the market, with June often seeing a slow down in activity during the school holidays, and maintains that the underlying fundamentals of the market remain strong.
The average price of property was £170,404 in June, still 0.97% higher compared to the start of the year.
The house price index also argues that house prices and transaction figures "remain arguably skewed" in Q2, as buyers pushed to complete before the 3% tax increase on second homes came into effect.
Transactions in March were almost 100% higher than February – a peak not seen since November 2007.
Christine Campbell, Your Move managing director in Scotland, said: “June was the first month that the spike in house prices as a result of the 2015 LBTT changes dropped out of the annual figures. This previous distortion in property prices goes some way to explaining the seemingly significant annual price increase we saw this June.
“Whilst market sentiment remains strong, with continued demand from both buyers and sellers, it will be interesting to watch how potential Brexit implications play into transaction and price figures over the coming months.
“Long term, the outlook for the housing market looks favourable. However, with housing demand continuing to vastly outstrip supply, it is important that we see a concerted focus on building new property to ensure there are enough homes for potential buyers across the country.”
