View more on these topics

Scottish house price boom ends during Q1

Scotland has seen the first quarterly fall in house prices for seven years, according to Lloyds TSB Scotland.

The bank’s regional arm’s Scottish House Price Monitor reveals the boom in Scottish house prices has come to an end.

The average domestic property fell 1.6 per cent to give an average mix adjusted price of £163,211. On an annual basis, Scottish house prices have risen by 14 per cent.

Dundee and Edinburgh were the only cities to see an increase in the quarter, with the South West, excluding Glasgow as the one area outside the major cities to see slight rises.

Lloyds TSB Scotland chief economist Professor Donald MacRae says: “Though this is the first quarterly fall in the all Scotland average house price for seven years, all cities and areas outside cities continue to show an annual underlying price increase. The market is showing sensible adjustment after years of price gains above the rate of inflation.

“As the total population in Scotland increases with less people per household, people living longer and marital break-ups, the number of households in Scotland is projected to increase over the next 20 years. Aspirations for home ownership show 86 per cent of people would prefer to own their own house. There is enough demand for housing to put owner occupation beyond the current level of 67 per cent.”

Recommended

Barbara Bradshaw succeeds Paddick as IIB chief

Barbara Bradshaw has been appointed as the Institute of Insurance Brokers chief executive following the death of Andrew Paddick.IIB chairman Graham Gomm says: “The board was determined that we should continue to provide the very highest level of service to, and on behalf of, our members. “During the past five years, the Institute has come […]

Legal & General mortgage club arranged £26bn worth of mortgages in 2007

Legal & General mortgage club arranged almost £26bn worth of mortgages in 2007, up 16 per cent from the previous year.The club now has over 10,000 members.L&G mortgages director Ben Thompson says: “Our figures for last year look very healthy and we don’t intend to let a slowing market hold us back in 2008. To […]

Pink takes share of mortgage firm

Pink Home Loans has acquired a majority shareholding in BDS Mortgage Group. The investment will result in a combined group that originated over £13bn in lending last year.

Bright Grey moves into business protection

Bright Grey has launched a new business protection product which offers cover for key person, loan protection and ownership protection.The policy, which allows advisers to combine up to 10 covers within one plan, also includes key person income cover for sickness which is designed to protect employers from loss of profit if a key person […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com