Good news for the market

30 / 08 / 2010

The latest survey from Lloyds TSB has revealed that the average house price in Scotland has risen to a high of £163,360, indicating a sustained recovery in the market.

The report confirms the findings of an earlier report this month by the Registers of Scotland which also highlighted a rise in prices north of the border.

The Lloyds TSB findings show that ‘after five quarters of declining output in the last seven, the Scottish economy recorded a robust increase of 1.3% in growth in the three months ending June 2010.  The Scottish housing market has adjusted to this changing economic environment.  Sales have halved but have now stabilised, while prices – after an initial fall – are now showing an annual increase comparable to retail price inflation.  There are no signs of a precipitate fall in house prices”.