House Prices Continue To Rise

The average cost of a house in Scotland is continuing to to rise, according to an industry report.

Property prices have gone up eight months in a row to April, the strongest run in 4 years.

Fife's growth was stronger than the national average, rising 6percent from 134 thousand to 142 thousand.

LSL Property Services says overall sales for the first quarter of 2014 are up nearly a quarter on the same time last year.

Gordon Fowlis, regional managing director of Your Move, an estate agency chain that is part of LSL, said it shows the longest run of growth for for years.

He said: "This is more than just numbers on a page - the new stability is translating into a tangible ‘feel-good’ factor for millions of homeowners, buoying consumer confidence and anticipation of future price gains. 

"One thing that could potentially upset the apple cart is the independence vote, having passed the 100-day milestone, kick-starting the countdown. While the Yes and No campaigns debate which outcome will leave households financially better off, many are already feeling the purse strings loosen.
 
“The starting gun may have gone off for the official campaign period, but the forthcoming independence referendum has not prompted potential home buyers into delaying their purchase decisions.

"Any uncertainty surrounding the fiscal, taxation or currency implications of an independent Scotland have not dented the confidence of homebuyers – in fact areas such as Stirling have seen sales soar by 52% over the last twelve months. The steep increase in the sale of properties during March and April is 10% above the usual seasonal trend. While transactions may be starting to cool south of the border, there are no indications of a sales slowdown in Scotland.

“First-time buyers remain a crucial lynchpin in the Scottish housing market recovery; driving activity from the bottom up. Last month’s announcement of further investment in the Help to Buy scheme will allow thousands more to climb onto the housing ladder and keep the foot on the pedal. House building and revived supply are providing additional impetus for growth."