Scottish house prices on the rise
17th Aug 2012
Average house prices in Scotland rose in the three months ending July 2012, according to the latest quarterly price index by Lloyds TSB.
Overall, the average Scottish house price is now £164,122, which is 7.3 per cent up on the quarter and means Scottish house prices are 95 per cent of their peak of four years ago.
Compared to the previous quarter, the number of transactions in the Lloyds TSB Scottish House Price Monitor is up by 37 per cent, and by 29 per cent when in relation to the same quarter one year ago.
For the market as a whole, Scottish house purchases during the second quarter of 2012 showed an increase of 9.2 per cent on the same quarter of last year, the data indicates.
Donald MacRae, chief economist at Lloyds TSB Scotland, said the Scottish housing market had initially adjusted to the recession with a halving of sales and a period of price volatility.
"However, these latest Monitor results show a pick-up in both activity and prices. The largest pick-up in the market is at the higher value end with the number of transactions for detached properties in the Monitor increasing by 47 per cent compared to the same quarter one year ago," he added.
Posted by Staff Writer: Robin Stenson
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