Scotland’s property market is holding up firmly amid falling prices around the rest of the UK, a report shows. Headlineproperty said figures from providers and industry associations show prices north of the border remain resilient.
Scottish house prices are expected to record a one per cent growth through the rest of this year, outperforming the rest of the UK. Headlineproperty said:
“It barely beggars belief, but there is no escaping the facts. While the rest of the UK property market reels from one bad news story after another, figures confirm that the Scots property market is proving remarkably resilient to the ongoing credit crunch.”
Recent figures from Nationwide showed the average house price in Scotland stands at £149,541, with Aberdeen the UK city with the fifth largest state of growth, three per cent, commanding a hefty average price of £225,124.
Buyer confidence in Scotland is also better than elsewhere, with nearly one in three saying they thought prices would be higher in 12 months time. Within the industry 59 per cent of Scottish agents polled by Headlineproperty said they were confident they wouldn’t see the same house price falls as in the rest of the UK.
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