May 27, 2011 Leave a comment
Scottish house prices have returned to the levels of 2007 according to Lloyds TSB Scotland The average price for buying a house in Scotland is now £153,335 and the prices have fallen by 3,6 % since last year.
The decrease in house prices is most likely a reaction of higher inflation, where the increase in earnings is much lower than the increase in prices. Despite the indicators of positive growth for the first months of this year it seems like the property market is recovering from the recession very slowly. The housing market is seeing lower prices and the amount of sales are lower than last year. Also the level of purchase has gone down 3,1% when comparing March this year with the same month 2010.
The lowest house prices in Scotland can now be found in the areas Fife, Perth and Tayside where the average prices stands at £130,293. Edinburgh is on top of the house price list with an average cost of £216,003 for a house.