Property in Scotland cheaper than UK average

Property in Scotland is cheaper than the rest of the UK, according to ESPC.

David Marshall, a business analyst at the firm, said that the average house price in Scotland is generally lower than in other parts of the UK, and has been for years.

"Scotland has always been comparatively affordable compared to the rest of the UK, but that isn't uniform across the board. There are areas where average house prices in Scotland are much higher than the UK average," he added.

Mr Marshall's comments follow data from Lloyds TSB Scotland's latest Scottish House Price Monitor, which highlighted that the nation's housing market's recovery from the recession has currently paused.

On an annual underlying basis, house prices in Scotland have increased 0.8 per cent, however, in the three months to July 31st 2010, the quarterly price index for the average domestic property in Scotland fell 2.9 per cent on the previous quarter.

The average price of a Scottish property now stands at £159,217.
 

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