Scots housing boom ending

The boom in Scottish house prices is ending, according to new statistics.

Figures from Lloyds TSB Scotland show that the country has endured a rare fall in prices, with the quarterly house price index revealing that in the three months to January 31st 2008 the average house price dipped by 1.6 per cent.

It was the first fall the bank has recorded in seven years and Lloyds TSB said it heralded the start of a flat period.

Dundee, Edinburgh and the south west (excluding Glasgow) bucked the trend with price rises.

Those living in Scotland who had hoped to buy a house and see its value rise may now consider the alternative option of self build.

Last year had been a boom year for Scotland, with figures from Halifax showing the annual price increase was 13.1 per cent, compared with the UK average of 5.2 per cent.



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