February 24, 2011
Scottish Property Prices Up By 5%
The most expensive property is in Edinburgh, where buyers need to fork out an average £257,354. Dundee prices average at £139,251.
In the three months leading to January, prices across Scotland fell by an average 0.3% but were still 4.7% more expensive compared with the same quarter of the previous year.
The Scottish House Price Monitor figures were calculated when a smaller number of sales were being processed. Transactions were around half of pre-recession levels.
The number of houses bought last quarter was 26% down on the previous quarter and 29% below the same period last year.
Lloyds TSB's Donald MacRae said: "The pattern of quarterly falls followed by quarterly increases to give virtually static house prices over the year looks likely to be repeated during 2011."
The bank said the £218,447 average house price in Aberdeen is 6.3% higher than its pre-recession peak and the £169,684 average in Glasgow has almost returned to its high of summer 2008.
