House prices down in Scotland

In the three months to 31 October 2008, the quarterly price index for the average domestic property in Scotland fell by 4.0% to give an average mix adjusted Scottish house price of £165,398. This is the largest quarterly fall in the sixteen year history of the House Price Monitor. On an annual basis, Scottish house prices have still risen by 4.9%, but this figure is significantly down on the 9.3% reported in the previous edition of the House Price Monitor. The number of house purchase transactions within the Scottish House Price Monitor has fallen by 43% on the same period last year. ...