The housing market in Scotland is now starting to recover, Lloyds TSB Scotland has claimed.
Quarterly figures up to the end of October this year showed the seasonally-adjusted average price to be 0.7 per cent up on the end of July, rising from £152,561 to £153,605.
However, those looking to buy property in Scotland will still find affordability to be greater than a year ago, with prices 7.5 per cent lower than 12 months before.
Chief economist for the Lloyds Banking Group Scotland Professor Donald MacRae said the start of a revival was clear from the data.
He remarked: “The cost of borrowing has reduced for many
The group’s national statistics for the UK as a whole – which are compiled by Halifax – revealed that the average home rose in value by 2.9 per cent over the quarter to October.