Scottish housing market 'most resilient' while London and south-east 'strongest'

Posted: 12 Aug 2008 11:06:17 GMT


            Property News - Scottish housing market 'most resilient' while London and south-east 'strongest'

Consumers concerned about falling house prices should consider Scotland or London and the south-east.

That is according to estate agent Knight Frank who has said that demand for property in the south of the country will protect those areas from big price drops.

Liam Bailey, spokesperson for Knight Frank, explained that Scotland enjoys a more stable market than the rest of the country and prices are still increasing marginally there.

Mr Bailey said that Scotland "is always more resilient because you do not see the same boom and bust conditions here that you get in the rest of the UK."

He continued: "The strongest markets over the next few years will be London and the south east due to the weight of demand for accommodation in these locations."

The July Halifax price index found that house prices fell by 1.7 per cent last month compared to the 1.9 per cent fall in June and 2.5 per cent decrease in May.

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