January 16, 2009
Property Investment In Scotland Bucks The Trend
Property prices in Scotland are bucking the overrall UK trend.
A recent survey by Nationwide have shown the average property price in Scotland is £138,941 compared to the average price in England of £171,924. Prices north of the border have seen the smallest price falls throughout the UK as a whole. The average fall in the UK was 14.7% whilst in Scotland it averaged only 8.1%.
Nationwide described 2008 as a "difficult" year for home owners and property investors.
During Q4 2008, Scotland was the only region that reported modest price increases throughout the UK - is this the start of a recovery for UK property investment? Not quite, although the rise was only 0.1% it is seen by many as the turnaround signifying a bottoming out in the UK property prices.
The Nationwide survey also confirmed that Scottish property owners were amongst the most positive with 11% predicting further property price increases during the first half of 2009.
Good news also for our Welsh property owners, as Wales was the 3rd best performing area in Q4 2008.
We are still in turbulent times, but prices in the North are beginning to hold firm whilst SE England are still seeing the largest falls.
