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Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in London.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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House purchases fall but prices rise
14 August, 2008
Scottish house prices continue to increase at a modest rate but the volumes of transactions has fallen by 27%, according to the latest Scottish House Price Monitor from Lloyds TSB Scotland.
In the three months to 31 July 2008, the quarterly price index for the average domestic property in Scotland rose by 1.6% to give an average mix adjusted Scottish house price of £172,185. On an annual basis, Scottish house prices have risen by 9.3%. Conversely, the number of house purchase transactions within the Scottish House Price Monitor has fallen by 27% since the same period last year.
Once again, the north of the country is in a strong position. Despite recording a quarterly fall of -2.8% Aberdeen is reporting a strong annual increase of +8.8% and the North excluding Aberdeen a strong +20.6% increase over the year.
The only cities to demonstrate an increase in their quarterly figures are Edinburgh at +1.9% and Glasgow at +0.6%. All areas in Scotland are reporting rises in their annual figures, ranging from +2.3% to +20.6%.
The price movement across Scotland is composed of price changes in different property types. In contrast to the previous quarter, flats are showing a decrease of -1.7%, and detached properties a decrease of -1.2%. Terraced properties are showing a quarterly increase of +5.5% and semi-detached properties are showing a quarterly increase of +7.2%.
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