Scottish house prices rise despite UK slump

People looking to buy a house in Scotland may be happy to hear that house prices remain strong despite a downturn in housing trends in the rest of the UK last month.

The Halifax House Price Index released yesterday (April 8th) has revealed that over the past year, Scotland has experienced a 5.3 per cent house price increase, while the past ten years has witnessed a 146 per cent rise.

This comes despite the fall in the UK market of 2.5 per cent overall and warnings over further dips.

Halifax’s chief economist Martin Ellis, posited that this should be taken within context, however.

"Overall, we expect there to be a modest fall in UK house prices this year.

"Any declines, however, should be viewed in the context of the significant price rises over recent years. The average UK price has risen by £120,860 during the past decade from £70,696 to £191,556; an increase of 171 per cent.