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Last Updated: Tuesday, 16 May 2006, 09:15 GMT 10:15 UK
Slight decrease in house prices
Surveyor
Glasgow was the biggest market, Registers of Scotland found
The average house price in Scotland fell by 1.2% in the first three months of the year with the average cost at �124,481, according to statistics.

The figures, from the Registers of Scotland, represented an increase of 8% over the same quarter last year.

The highest average price was in the Lothian region at �160,110, an increase of 0.4% since the last quarter.

However, Lloyds TSB figures showed average house prices in Scotland rose by 4% since the last quarter.

The Registers of Scotland data - which tracks activity in seven broad geographic areas - found that the highest year-on-year increase, at 12.5%, was in the south west Scotland area.

The average house sold for �109,407, the research found.

AVERAGE PRICES BY REGION
Central: �114,040
Grampian: �117,548
Highlands, Islands: �118,912
Lothian: �160,110
Borders: �130,622
South West: �109,407
Glasgow: �117,600
Unallocated: �160,978*
Source: Registers of Scotland

The Glasgow area remained the biggest market with sales of almost �1.3bn between January and March, an increase of almost 26.7% since the same period last year.

Sales for the whole of Scotland amounted to �4bn.

The Lloyds TSB Scotland House Price Monitor revealed average prices have risen for 21 consecutive quarters.

Professor Donald MacRae, chief economist at Lloyds TSB, said: "Affordability of house purchase in Scotland has improved since the last quarter, while consumer confidence has increased.

"Economic growth in Scotland equalled that of the UK at the end of last year, while business surveys pointed to improved prospects for 2006 of growth nearer to 2%.

"The Scottish house price boom may have subsided, but robust price growth continues."

*Sales which could not be accurately placed.




SEE ALSO:
South west tops house price rises
16 May 06 |  South of Scotland
Optimism in housing market soars
04 Feb 06 |  Scotland
'More caution' in housing market
29 Jul 05 |  Scotland
Owners predict house value rise
16 Jul 05 |  Scotland


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