Twitter Facebook RSS FEEDS

Scottish house prices fall

Monday, 18 May 2009 3:07 PM

House prices in Scotland fell by 2.1 per cent in the last year and 4.3 per cent in the three months to April 30th.

The average mix adjusted Scottish house price is now £148,990, with the volume of house price transactions down 35 per cent on levels recorded for the same period last year.

The figures, out today from the Scottish House Price Monitor from Lloyds TSB Scotland, show in the three months to April 30th the quarterly price index for the average domestic property in Scotland fell by 4.3 per cent.

Professor Donald MacRae, chief economist, Lloyds TSB Scotland, said: "The Scottish economy is now firmly in recession. Consumer confidence has fallen and claimant unemployment has risen. However, there is evidence of consumer confidence marginally improving while retail sales continue to increase on an annual basis.

"The cost of borrowing has reduced for many mortgage holders while there has been a slow but perceptible increase in the level of mortgage availability for first-time buyers. The Scottish housing market continues to adjust to changing circumstances with reduced sales, lower prices, but no precipitous collapse."

The figures also highlighted the purchase of flats had fallen by 39 per cent, with semi-detached sales down 28 per cent. However, Lloyds discovered the "picture across the country remains very mixed" with two areas reporting a small annual rise in comparison to significant falls elsewhere.

Price rises were also recorded in April, with house price transaction numbers rising in both March and April.

Related stories

Scottish house prices fall

Scottish house prices fall

Scottish house prices fall

 New consumer sentiment index says expectations of house price growth over next 12 months at highest level for over a year. Image: Thinkstock

House prices fall again but expectations higher

New consumer sentiment index says expectations of house price growth over next 12 months at highest level for over a year.

House price stabilisation expected

Scottish house prices 'will remain steady'

Scottish house prices 'will remain steady'

 Like London, Singapore raised stamp duty levels without ill-effect. Image:Thinkstock

First fall in global city house prices since 2009

Economic problems turn prime property prices negative but Knight Frank says new deflationary cycle unlikely.

Scottish house sales fall 57.1%

Scottish house sales fall 57.1%

Scottish house sales fall 57.1%

 Use extra cash from increased council tax on empty homes to help bring them back into use, says Shetler Scotland. Image: Thinkstock

Scottish government urged to invest in empties

Use extra cash from increased council tax on empty homes to help bring them back into use, says Shetler Scotland.

Despite global price drops, Estonia bucked the trend.

Global house prices set to fall further in 2012

Prices fell in 60 per cent of countries in last quarter of 2011, says Knight Frank.

First fall in Scottish house prices in seven years

First fall in Scottish house prices in 7 years

First fall in Scottish house prices in 7 years
By region, Lisburn performed better than the overall market. Image:Thinkstock

Another fall in Northern Irish house prices

Apartments the big losers as prices fall despite rise in transactions, reveals University of Ulster survey.

Firstrung expects price drops

House prices 'to fall 10%'

The mortgage drought could mean further house price reductions, according to one organisation.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.