Scottish house prices fall again

Published on Wednesday 15 February 2012 00:00

HOUSE prices in Scotland fell for the third successive month at the end of last year, according to new figures.

Prices dropped 0.2 per cent in December to an average of £146,913, the latest LSL Acad Scotland House Price Index showed. There was also a 1 per cent drop year-on-year, it said.

However, the number of transactions in December was up 2.5 per cent on November.

Property experts said that mortgage lenders had helped keep up the flow of buyers but warned that the picture for the future looks gloomy.

Your Move regional managing director Gordon Fowlis said: “Prices fell marginally in December but no further than you’d expect in the normal seasonal downturn.”

The biggest annual increase was in the Western Isles where prices soared 22.3 per cent from £93,057 in December 2010 to £113,836 in December 2011.

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Lachie Mhor

Thursday, February 16, 2012 at 02:40 PM

Another example of fall out due to the economic uncertainty fostered by our Great Leader

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Hector the Lessor

Thursday, February 16, 2012 at 07:06 AM

Not too unusual. The price of houses rose sharply over the last ten years. You have folk who are not able to pay their mortgage and their house comes on the market. So to all intents and purposes it is a buyers market. This stage will pass relatively quickly and house prices should remain stagnant for maybe five to ten years until the economy improves. It should be recognised that inflation will reduce the value of the house over those years, but what the heck, if you can afford to buy one to live in rather than look for a profit, I do not reckon you would lose out. To those who may feel I am not qualified to express opinions on this matter, you are right, I am not. I am only repeating the experiences of house owners in the 1970s who experienced the same problems.

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samcoldstream

Wednesday, February 15, 2012 at 02:24 PM

1930s stagflation.

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