Consumer confidence 'returning to Scottish housing market'

Posted: 18 Feb 2010 10:43:51 GMT

Consumer confidence in the Scottish housing market is gradually returning to those north of the border, it has been suggested.

Dianne Paterson, property partner at legal firm Russel and Aitken, says that the increased availability of mortgage lending and cheaper home loan deals is the driving force behind this increase in confidence.

Her comments come in response to recent statistics from Lloyds TBS Scotland, which reveal that the country's average house price increased by 5.9 per cent in the final quarter of 2009.

The average property value in Scotland now stands at £160,074.

Ms Paterson states that the house price increases over the past three months come as "no surprise", as greater consumer confidence has led to increased activity in the property market.

Furthermore, she adds that this trend is expected to remain steady over the coming year.

House prices in Dundee saw the biggest rise during this period, increasing in value by 16.3 per cent.

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