17
Feb
Scottish house price fall 'has slowed'
The fall in house prices across Scotland is slowing down, new
figures have indicated.
A study by Lloyds TSB Scotland has found that in the three months
to January 31st 2009 the drop in values was 2.3 per cent, down from
four per cent over the previous three-month period.
In addition to this, some areas of the country have seen prices
rise, including the cities of Edinburgh, Aberdeen and Dundee.
Reflecting on the figures, which mean the average house price is
still 1.6 per cent higher than a year ago, chief economists at
Lloyds TSB Scotland Professor Donald MacRae commented: "The
Scottish housing market is adjusting to changing circumstances with
reduced sales and in some cases lower prices rather than a
precipitous collapse."
Yesterday the National Association of Estate Agents said figures
from Rightmove showing a rise in asking prices this month may be an
indication that the market decline is bottoming out in some
areas.
