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Scottish house prices see further slide

The average house price in Scotland has fallen by more than £6,000 in a year, with tough mortgage lending conditions contributing to the decline, according to a report.

December saw the average price paid for a home reach £140,846 – some £6,224 less than in the same month in 2011, a drop of 4.2 per cent.

It is the sixth consecutive monthly fall, with prices in December down more than £1,000 from November.

Homes in Edinburgh saw some of the sharpest declines as values fell almost £17,000 annually. However, the capital remains the most expensive area, with the average property costing £200,981.

East Renfrewshire is now the second most expensive place to buy a home, with an average price of £199,642.

Just nine of the country’s 32 local authority areas recorded a rise, the LSL/Acad Scotland House Price Index showed.

 

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