Property News

Friday, February 16, 2007

Scottish slowdown in top-end properties

According to Lloyds TSB latest Scotland House Price Monitor, house prices in the top end of the market in Scotland are slowing.

The monitor reports that detached properties recorded an annual rise of 8.4 % and semi-detached 10.2 %, while lower-priced properties continue to show stronger rises of 16.5% for terraced dwellings and 11.3% for flats.

In the three months to 31 January, 2007, the quarterly price index for the average domestic property in Scotland rose by 3.3% to give an average Scottish house price of £147,763. On an annual basis, Scottish house prices have risen by 11.0% and average prices had now risen steadily for 72 consecutive months.

The largest annual rise is recorded in Aberdeen at 18%. Average prices in Edinburgh have risen by 10.6% year-on-year and Glasgow city shows an annual increase of 5.9%.

The north of Scotland (excluding Aberdeen) reported a quarterly fall, as did Dundee, but both of these follow significant rises in the previous quarter.

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