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Worrying outlook for static Scottish house market

  • 15/05/2013
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Worrying outlook for static Scottish house market
House prices in Scotland have fallen in the last year and risk being left behind the rest of the UK, according to the latest LSL Scotland house price index.

Property prices in the nation fell 0.9% in the twelve months to May 2013, reaching a national average of £144,615. This figure is £1,257 lower than a year ago.

Edinburgh and Aberdeenshire are now the only two areas where the average house prices are above £200,000. By contrast, the average property in North Ayrshire costs £98,397.

Richard Sexton, director of e.surv chartered surveyors, said that the government in Scotland needed to make sure it didn’t get left behind as housing schemes are launched in other parts of the UK.

“Although it is not yet clear quite how high the Scottish government will put supporting the property market up their priority list, the UK government has taken a number of steps to boost the housing market,” he said.

“The Funding for Lending Scheme has been the most important one and has encouraged lenders to lower mortgage rates and reduce interest rates.

“George Osborne and the UK government are giving the property market a further helping hand with the Help to Buy scheme. That will impact the UK overall, and should help Scotland move forward into broad, sunlit uplands.”

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