Scottish house prices 'creeping up'

Posted: 29 Nov 2011 16:06:57 GMT

Lloyd TSB's most recent Scottish House Price monitor shows house prices north of the border are slowly creeping up.

House prices in Scotland are slowly creeping up, according to Lloyd TSB's most recent Scottish House Price monitor.

The figures show during the three months of 2011 to October, average property prices for homeowners north of the border increased by some 1.7 per cent, marking the first rise following three consecutive quarterly drops.

However, with the average Scottish home now valued at £155,805, prices have fallen in the region by 2.9 per cent for the year as a whole and the number of transactions taking place throughout the month of September was five per cent lower than it was the previous year.

Donald MacRae, chief economist for Lloyds TSB Scotland, said: "The Scottish housing market did recover from the depressed levels at the beginning of the year but the overall number of sales remains at less than half of pre-recession levels."

Lloyds TSB Group PLC is the largest retail bank in the UK.
 

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