14
Nov
Scottish house values 'easing in price'
House prices in Scotland are easing gently rather than falling, it
has been stated.
Such a comment was made by Lloyds TSB Scotland chief economist
Donald MacRae in response to new figures showing a fall in Scottish
house prices in the three months ending October 2008.
Mr MacRae said: "Although the number of mortgage products has
declined, the cost of borrowing has reduced for many mortgage
holders with the latest fall in interest rates in early
November."
He added that rather than plummeting, the market had shown a
"sensible adjustment".
The figures indicated that there are regional variations across
Scotland, with prices in Glasgow and the south-east (excluding
Edinburgh) still rising.
Figures from the Realtors of Scotland produced yesterday indicated
that prices in the country during September were 0.1 per cent
higher than they were 12 months before, following a 2.9 per cent
recovery in prices from the second quarter.
