Aberdeen house prices 'volatile' as market slows
Estate Agents - 18/08/2006 15:23:53
New figures show that house prices across Scotland vary greatly, with Aberdeen one of the most unpredictable areas across the nation.
According to quarterly figures from Lloyds TSB, Aberdeen house prices fell by 2.4 per cent yet showed the biggest annual increase in Scotland with costs going up 17 per cent.
A spokesman for the bank said that Aberdeen was a "volatile" market compared to cities such as Glasgow and Edinburgh, were house prices rose steadily according to quarterly and annual figures.
Recent figures show that the increase in house prices across Scotland has started to slow down after rapid growth in recent years, with July being the 66th consecutive month where an rise has been recorded, but that increase were still likely in future months.
This has led Lloyds TSB to claim that the property market across areas like Glasgow and Aberdeen is heading for a "soft landing" and their chief economist Donald MacRae to say that this was due to a changing population.
Mr McRae said: "The number of households in Scotland is projected to grow by 11 per cent up to the year 2024.
"The number of households with one person is expected to exceed those with two or more adults during 2016."
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