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The McGlashan

Lloyds Tsb Scottish House Price Monitor

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This publication no longer appears on Lloyds TSB's website since they all became Lloyds Banking Group.

However :ph34r:

Here it is....

SHPM 72.pdf

And here's the press release accompanying it...

HPM 72 Press Release.doc

text reads:

SCOTTISH HOUSING MARKET CONTINUES ON A SLOW ROAD TO RECOVERY

The housing market in Scotland is showing signs of a weak recovery, according to the latest Scottish House Price Monitor from Lloyds TSB Scotland.

In the three months to 30 April 2010, the quarterly price index* for the average domestic property in Scotland rose 0.7 per cent on the previous quarter. Following mix adjusting, the average Scottish house price is now £157,801.

Despite rises in each of the last three quarters, on an annual basis, Scottish house prices have fallen by 3.3 per cent. The rise in the latest quarter is much lower than the +5.9 per cent of the previous quarter. The number of house purchase transactions remains low with 19 per cent fewer transactions than in the last quarter. The number of house purchases reached a low point in February but recovered in March and April, but is still around half the level witnessed before the recession.

Price movements in the latest quarter remain volatile. Though Dundee is reporting a significant annual rise at +10.7 per cent, this masks the volatility seen in quarterly changes shifting from +16.3 to -10.8 per cent in the last two quarters. Dundee house prices are now at levels last seen 21 months ago. Most areas continue to report an annual fall in prices ranging from -2.5 per to -8.2 per cent

Professor Donald MacRae, chief economist, Lloyds Banking Group Scotland, said: “The Scottish economy entered recession in quarter three of 2008 and recorded five consecutive quarterly falls in output. Scotland exited recession at the end of last year with growth of 0.2% in the last quarter having experienced one quarter less of falling output than the UK over the whole of the recession.

“Consumer confidence continues to recover from the low at the end of 2008 but is still below pre-recession levels. Retail sales are increasing at an annual rate of 3.9% in March while the volume of housing sales has recovered from the low point of February this year.

“The level of mortgage availability including for first time buyers has increased while the cost of borrowing remains low for many mortgage holders. The rise in the average Scottish house price identified at the end of last year has not been maintained into 2010. However, activity has picked up from the low levels of the winter months. The Scottish housing market continues to recover but slowly.”

AREA UNDERLYING ANNUAL CHANGE QUARTERLY CHANGE

Dundee +10.7% -10.8%

Aberdeen +0.9% -1.4%

Central/Fife/Perth/Tayside (excl Dundee) -2.5% +10.5%

South West (excluding Glasgow) -3.1% -2.0%

North (excluding Aberdeen) -3.5% -3.4%

South East (excluding Edinburgh) -4.5% -9.7%

Edinburgh -6.9% +3.9%

Glasgow -8.2% +14.7%

Figures shown are for the quarter January 2010 to April 2010 and the year April 2009 to April 2010.

*The house price index is adjusted for changes in geographic area, property type and season. Information excludes local authority purchases and remortgages. The annual price change is measured by the average of the latest four quarters expressed as a percentage of the preceding four quarters.

SHPM 72.pdf

HPM 72 Press Release.doc

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Cheers for the info.

And it wasn't mentioned on last nights Reporting Scotland as predicted.

So they pick out one example from all the regions in their snippet. Wow !! What a surprise it is the only one showing a large annual increase. Even though they do at least admit it is about as reliable as a chocolate teapot.

All the other areas show large falls (Except Aberdeen with a small increase)

Glasgow and Edinburgh down a large amount - although with the low sales it is not worth taking much notice. However whenever the numbers are similar but positive ? Splahed all over BBC Reporting Scotland.

It really is shameless. However it can't be long before even these muppets realise their efforts are futile. It is coming, has been for years, and there is nothing they can do about it.

I am more convinced of more large falls in Scottish House prices than I have ever been. It is just ow that is the question. A few years of large nominal falls or a continuation of the slow drip down of 'real' prices ?

Thoughts ?

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http://thescotsman.s...s-to.6490436.jp

The quarterly Lloyds TSB Scottish House Price Monitor shows that the average house dropped in price by almost 3 per cent in the three months to 31 July, at £159,217.

An impressive 6 per cent leap in the average house price in the three months up to January had led to hopes that a revitalised property market could help lead Scotland out of the economic downturn.

However, experts now fear that the property market is again stagnating, with house prices increasing by less than one per cent in the last year according to Lloyds.

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Latest report out. For once Reporting Scotland and the Scotsman are onto it.

Scotsman

"Lloyds also revealed that the price of the average home fell by 0.3 per cent to £162,119 in the three months ending in January, although it was 1.3 per cent higher than in the same quarter a year ago. "

BBC

"Prices fell 0.3% in the three months to January but were up 4.7% compared with the same period last year."

Although there is a fair discrepancy with the figures between the two !! :blink:

Overall a pretty gloomy picture. I think even this lot are coming to a realisation of what is happening. Interesting to note how they report this on Reporting Scotland and on the BBC website.

"Ths cost of buying a house has risen...."

VERY different to the usual "House prices have risen"

I read a similar thing in the main BBC news about a month back. These little snippets may not seem important - however I think they are mega important. Even the huge VI's are starting to, VERY gradually, relate rising housing costs with negative thoughts.

About time too.

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Latest report out. For once Reporting Scotland and the Scotsman are onto it.

Scotsman

"Lloyds also revealed that the price of the average home fell by 0.3 per cent to £162,119 in the three months ending in January, although it was 1.3 per cent higher than in the same quarter a year ago. "

BBC

"Prices fell 0.3% in the three months to January but were up 4.7% compared with the same period last year."

Although there is a fair discrepancy with the figures between the two !! :blink:

Overall a pretty gloomy picture. I think even this lot are coming to a realisation of what is happening. Interesting to note how they report this on Reporting Scotland and on the BBC website.

"Ths cost of buying a house has risen...."

VERY different to the usual "House prices have risen"

I read a similar thing in the main BBC news about a month back. These little snippets may not seem important - however I think they are mega important. Even the huge VI's are starting to, VERY gradually, relate rising housing costs with negative thoughts.

About time too.

"although it was 1.3 per cent higher than in the same quarter a year ago. "

"but were up 4.7% compared with the same period last year."

They always have to sneak it in....

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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