Scottish housing increases forecast compared to rest of UK

Househunters looking to buy a house in Scotland may be happy to learn that one property consultancy views the country’s housing market as “remarkably robust”. According to Knight Frank figures, in 2007, the Scottish housing market outperformed all other UK regions and recorded a capital growth rate of 13 per cent. Meanwhile, a 19.9 per cent increase was experienced for new Scottish property. Compared the rest of the UK, the firm has forecast that Scotland will witness a house price growth of one per cent, whereas other regions are expected to see a reduction of three per cent. Liam Bailey, head of residential research at Knight Frank, said: “Scotland’s housing market is proving remarkably robust in the face of the turbulent market conditions affecting the wider UK market.” The Halifax House Price Index recently recorded that over the last ten years, Scottish property prices have seen an overall growth of 271 per cent.