'Plateau reached' for Scottish property market

Posted: 23 Feb 2012 12:32:30 GMT

            Property News - 'Plateau reached' for Scottish property market

The price of domestic property in Scotland has risen slightly of late.

The Scottish housing market has reached a plateau, new research has suggested.

According to Lloyds TSB Scotland's latest Scottish House Price Monitor, the quarterly price index for a typical domestic abode north of the border increased by 1.4 per cent in the three months to January this year.

It means the average house price in the country currently stands at £155,528, with the overall price index increasing for two quarters in a row.

Donald McRae, chief economist at Lloyds TSB Scotland - which was launched in June 1999 and offers the full range of home loan deals provided by the Lloyds Banking Group in England and Wales - stated: "The Bank of Scotland PMI indicator has been positive for all of 2011 and is again positive for January 2012 suggesting a continuation of growth but at low levels."

The industry figure added average property prices now stand at a level that is 91 per cent of the peak witnessed more than three years ago.