16 Nov

Houses for sale in Scotland 'rise in price'

Houses for sale in Scotland 'rise in price'

Homeowners with a house for sale in Scotland will be pleased to hear that the value of their property has risen.

Lloyds TSB Scotland reported today (November 16th 2010) that Scottish house prices rose by 4.6 per cent over the last year.

It also revealed that during the third quarter of 2010, property values increased by 3.7 per cent, taking the average price of a house for sale in Scotland to £165,284.

The findings also showed that the prices of houses for sale in Aberdeen rose the most, increasing by 15.3 per cent over the year and taking the average home cost to £224,672 in the area.

Chief economist for Lloyds TSB Scotland Donald MacRae said: "The Scottish housing market has adjusted to this changing economic environment.

"Prices, after an initial fall, are now showing an annual increase comparable to retail price inflation."

This comes after Knight Frank reported last month that the average value of a prime property in Edinburgh dropped by 4.6 per cent during the third quarter of the year.ADNFCR-1222-ID-800238711-ADNFCR

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