18
Feb
Scottish house price increases 'not a surprise'
The rise in property prices in Scotland over the past few months is
not surprising, according to one industry expert.
Dianne Paterson, property partner at Russell + Aitken, explained
that the final months of 2009 saw an increase in activity levels in
the housing market.
This has been boosted by returning consumer confidence coupled with
a stronger mortgage market offering a greater number of cheap home
finance deals, she stated.
In terms of looking ahead, Ms Paterson predicted that prices in the
region will remain "fairly steady". However, she noted that a
shortage of suitable properties is driving values higher.
"If this continues, demand will outweigh supply and prices may then
increase," she concluded.
According to research released by Lloyds TSB Scotland on February
16th, Scottish house prices rose by 5.9 per cent over the final
quarter of 2009, bringing the average property value in the country
to £160,074.
Estate agents in Dundee experienced the biggest price increases,
with values shooting up by 16.3 per cent over the three-month
period.