18 Feb

Scottish boom 'may be over'

Scottish boom 'may be over'

The so called boom in Scottish house prices could finally be over, according to new figures from Lloyds TSB.

On its new quarterly index, the firm stated that the average price of a home dipped by 1.6 per cent, for the three months until January 31st.

However, yearly prices did rise in a number of areas such as Glasgow (five per cent), Edinburgh (18 per cent) and Dundee (20 per cent), it remarked.

Chief economist from Lloyds TSB Scotland Professor Donald MacRae stated that despite the dip, the outlook is still positive.

"Though this is the first quarterly fall in the all-Scotland average house price for seven years, all cities and areas outside cities continue to show an annual underlying price increase," he commented.

He added that the figures "represent" an adjustment in the market.

Recently, the National Association of Estate Agents stated that the UK market is gaining momentum, with more sales seen per agent in January, a number up from five to eight.ADNFCR-1222-ID-18471785-ADNFCR

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