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Property For Sale In Scotland Sees First Quarterly Increase In 2011
The price of property for sale in Scotland rose for the first time this year in the quarter ending October 2011, new figures show.
According to Scottish House Price Monitor from Lloyds TSB Scotland, a quarterly rise of 1.7 per cent was registered, following three consecutive quarterly falls.
Edinburgh and Aberdeen both also saw an annual increase in house prices of 3.1 per cent and 2.7 per cent respectively.
The average house price in Scotland now stands at £155,805, significantly lower than the English average, offering opportunities for property investment.
Lloyd's TSB's index showed an increase in sales of eight per cent compared to the July-ending quarter of this year.
Halifax research also recently identified Scotland as offering opportunities for property investment, alongside the north of England.
Six of the ten areas experiencing the largest price per square metre rise in the past decade were in Scotland, while the lowest increases were seen in Northern Ireland and south-east England.
Peterhead, in Aberdeenshire, topped the list with a 160 per cent rise since 2001.
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Article date: 11/29/2011 12:00:00 AM