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House prices 'fall by 3% in Scotland'

15th November 2012 | back to article listings BACK    print this article PRINT

Scottish property prices have fallen by almost 3% since last year - the steepest fall in three years.

LSL Property Services' Scotland House Price Index said the price of an average home in September was 143,406, 0.3% less than in August.

And the figure was 2.9% down on the previous year, making it the largest annual decrease since November 2009.

During the 12-month period to September, house prices fell in 22 of Scotland's local authority areas with the value of residential properties plummeting by 16.9% in West Dunbartonshire and 10.5% in Midlothian.

But 10 areas actually saw increases in house prices, bucking the general downward trend affecting UK property.

In Inverclyde, homes were worth 5.5% more than they were in 2011 and Orkney experienced a similar upsurge in prices with a 5.4% rise.

The market index showed that Edinburgh was still the most expensive place to live in Scotland with the average home costing 216,792 - almost 92,000 more than the average price for a Glaswegian home which is 124,916.

Copyright Press Association 2012

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