Price rises in some areas have slowed

The Lloyds TSB Scotland House Price Monitor found that Glasgow prices showed annual growth of 29% at the end of July.

This compared with 15% in Dundee, 12% in Aberdeen and 7% in Edinburgh.

Overall, prices rose for the 14th consecutive quarter - giving an average mix adjusted house price of �110,296.

Outwith the main cities, prices were still showing strong growth in the year of between 22% and 24%.

The areas first into Scotland's housing boom are now displaying more modest price rises Professor Donald MacRae Lloyds TSB Scotland

On an annual basis, Scotland has witnessed a rise in house prices of 20.7%.

Professor Donald MacRae, chief economist at Lloyds TSB Scotland, said: "Although interest rates have now increased five times since autumn of last year, they have not yet affected the Scottish housing market as many mortgage holders are on fixed rate mortgages and are still to experience a rise in their mortgage payments.

"However, the areas first into Scotland's housing boom are now displaying more modest price rises.

"Overall, Scottish house prices are set for a gentle moderation rather than coming to an abrupt halt."

In terms of actual average prices, Edinburgh has the highest in Scotland with an average of �151,117, followed by Glasgow at �121,028 with Aberdeen at �112,650.