Lloyds: Scottish House Prices up 4.7% YoY

HAMISH_MCTAVISH

Aberdeen house prices now 6.3% higher than the pre-recession peak.:beer:

The average cost of buying a house in Scotland has risen by almost 5% on the same period last year, a report said.

But the Scottish House Price Monitor from Lloyds TSB Scotland found prices fell in the last quarter - the three months ending in January 2011.

The average cost of a home north of the border is now £162,119.

However, the report said the number of homes bought in the last quarter was 26% down on the previous quarter, and 29% below the same quarter of 2010.

The most expensive property was in Edinburgh, making an average price of £257,354, while Dundee was at the bottom of the table at £139,251.

The survey found the house price average in Aberdeen was now 6.3% above its pre-recession peak.

In addition, the cost of buying a home in Glasgow has almost returned to its high of summer 2008.

Prices fell 0.3% in the three months to January but were up 4.7% compared with the same period last year.

Donald MacRae, chief economist at Lloyds TSB Scotland, said: "The Scottish housing market has adjusted to the recession with a halving of sales and a period of volatile price movement over the last three years.

He added: "The pattern of quarterly falls followed by quarterly increases to give virtually static house prices over the year looks likely to be repeated during 2011."

http://www.bbc.co.uk/news/uk-scotland-12496931

brit1234

Aren't they falling now and isn't the trend down wards for the foreseeable future.

Getting desperate Hamish, very desperate aren't you.

FTBFun

brit1234 wrote: »

Aren't they falling now and isn't the trend down wards for the foreseeable future.

Not for you they're not.

HAMISH_MCTAVISH

brit1234 wrote: »

Aren't they falling now and isn't the trend down wards for the foreseeable future.

Do you have a reading comprehension problem? Seasonal fluctuations, but up year on year. :beer:

Getting desperate Hamish, very desperate aren't you.

With local house prices 6.3% above the previous 2007 peak..... There's nothing to be desperate about up here.

You on the other hand, are starting to sound very bitter and despondent.

I see that's another signature change for you after the last lot didn't come true, just like the previous lot.;)

Never mind though Brit, never say die. That's the spirit.

ruggedtoast

HAMISH_MCTAVISH wrote: »

With local house prices 6.3% above the previous 2007 peak..... There's nothing to be desperate about up here.

I dunno about that, in order to benefit from price rises in Aberdeen you presumably have to live in Aberdeen.

Hardly a reason for unalloyed joy in my humble opinion...

abaxas

Failed business makes statistical claim.

What next the Enron index?

IronWolf

Noone cares about Scotland

DaddyBear

Just about keeping up with inflation then.

Engeroosi

now now, I live in Aberdeen, I don't mind it apart from the fact its full of people not from Aberdeen, ie ME!! And the road infrastructure hasnt been upgraded since the 60's or something.

But it is true that house prices haven't been affected as much and they will remain quite stable floating up and down for next year or 2 until the whole country is ready for moving upwards once again. If that ever happens!!!

AD9898_2

HAMISH_MCTAVISH wrote: »

Aberdeen house prices now 6.3% higher than the pre-recession peak.:beer:

http://www.bbc.co.uk/news/uk-scotland-12496931

Good for you I guess, but with wage inflation at less than 2% it's not good for young people and not good for the economy over all.

We all know the disaster that has beset our country because of house prices being allowed to exceed wage inflation, yes ? Still you don't care a jot as most of your incredibly selfish posts show, it's all me, me, me, me.

HAMISH_MCTAVISH

AD9898 wrote: »

Good for you I guess, but with wage inflation at less than 2% it's not good for young people and not good for the economy over all.

We're 3.5 years on from the previous peak.

Wage inflation of 2% per year, house price inflation of 6.3% in total.

Almost identical rises for Aberdeen....

We all know the disaster that has beset our country because of house prices being allowed to exceed wage inflation, yes ? .

No, we don't.

The disaster that has beset our country was caused by the sudden and catastrophic freezing up of global credit markets, which almost brought down the world's financial systems.

UK House prices had nothing to do with the recession or credit crunch.

UK mortgage lending standards had nothing to do with the recession or credit crunch.