Average house prices in Scotland have seen the first annual decrease for almost three years

Latest statistics from the UK House Price Index show properties in February had an average cost of £145,762 – a drop of 0.2% on the same month in 2018.

This is the first annual decrease in Scotland since March 2016.

House prices also fell by 3.1% between January and February this year.

Janet Egdell, Registers of Scotland accountable officer, said, “The average price of a property in Scotland in February 2019 signalled the first annual decrease since March 2016, falling by 0.2% in the year to February 2019.

“Prices increased in around two-thirds of local authority areas and different property types showed a mixed picture, indicating that the market is highly variable across the country in this time of uncertainty.”

The UK average house price was £226,234 – an increase of 0.6% on February last year and a decrease of 0.8% on the previous month.

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