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Scotsman: Outlook For House Prices "gloomy"

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Saturday, 19th May 2007
Outlook gloomy as house price growth rate is set to fall to zero
HOUSE price growth in Scotland could slow to a standstill this year amid increasingly unaffordable prices and rising interest rates, property experts have warned.
The gloomy outlook came as the latest figures show house prices recorded their biggest seasonal dip for two years.
The statistics will come as a
wake-up call
to those who have invested in a buoyant market fuelled by consistent double-digit rises - and especially to those who gamble on sharply rising house prices providing a nest-egg in their retirement.
Mark Robertson, a partner in the UK property consultancy Ryden, said: "It certainly appears that house price rises will stop soon and these figures appear to confirm that. It will vary by market and location, but overall prices are pretty stretched at present."

I am so happy I want to cry! :lol::lol::lol:

Edited by Realistbear

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