Bonny prices buoy Scotland

Bonny prices buoy Scotland

Tuesday, May 20, 2008

Despite England's best efforts, house prices in Scotland remain robust…

Official figures have revealed that house prices in Scotland rose by 7.4 per cent year-on-year in the first quarter of 2008, despite an overall drop in sales.

A report from The Registers of Scotland showed that the average house price was £150,257 in the first quarter, climbing back towards last year's peak of £158,360.

The highest average prices were found in Lothian, which includes Edinburgh, where prices climbed by nearly five per cent, to £187,316, while those in the south-west were the lowest, at £131,044.

Geoff Locket, a partner at Strutt and Parker Estate Agents, commented: “Nervousness caused by the state of the housing market in southern England has prevented many people from putting their properties on the market.

"The figures are good news for Scottish homeowners, but not so great for solicitors. Property speculation has virtually ground to a halt, investment is massively reduced. That's why there are fewer properties coming on the market."

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