Scottish property prices on rise again
www.moneynews.co.uk > Housing market > Scottish property prices on rise again
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Money News |
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Scottish property prices on rise again
Wed 22nd Nov 2006
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The latest monitor shows that Aberdeen is leading the way in terms of price rises with a 15 per cent underlying annual increase reported compared with Glasgow's eight per cent rise.
An average house price in Scotland has been reported as £145,593 which represents a rise of 11.6 per cent on an annual basis and points to a housing market that has seen rising property prices for a total of 69 months on the trot.
Professor Donald MacRae, chief economist at Lloyds TSB Scotland, stated: "The rate of increase of house prices in Scotland has been faster than in the rest of the UK. Relatively low interest rates and a favourable economic background continue to propel the housing market in Scotland upwards."
He went on to predict that the Scottish housing market will "gently subside" as opposed to busting due to "the recent increase in the cost of borrowing".
Although the overall average price continues to rise, this masks a variation occurring across different areas such as Aberdeen and Dundee's slight quarterly drop in prices compared to the north (excluding Aberdeen) showing strong rise.
Related News : Housing market |
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Related News : LloydsTSB |
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