Experts think the market will be resilient

Figures in the bank's report showed the average price of a house in Scotland has risen by 6.4% over the past year to �70,220.

The average price of a house in the last quarter surveyed, between August and October last year, was �68,640.

However, over the past three months the bank said the price of an average domestic property in Scotland rose by 2.3%.

The figures showed that the average house price in:

• Edinburgh was �93,023

• Glasgow was �64,326

• Aberdeen was �78,683

• Dundee was �57,191

• the south east area excluding Edinburgh was �74,817

• the south west excluding Glasgow was �67,502

• the north excluding Aberdeen was �74,692

• in the Central, Fife, Perth and Tayside areas, excluding Dundee, the price was �63,693.

Professor Donald MacRae, Lloyds TSB Scotland's chief economist, said it was expected that prices would fall in the coming months, which means prices could fall back from this record average high.

"However, with the low cost of borrowing and current high levels of affordability, the housing market in Scotland will continue to remain resilient," he said.