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Quarterly increase in Scottish house prices

Recent data from Lloyds TSB Scotland has revealed a 7.3% increase in the average price of a house in Scotland, although on an annual, underlying basis, prices have fallen by 1.5%. According to the latest Scottish House Price Monitor, the average house price in Scotland is now £164,122.

The latest house price movement has been generated from a market with a low but increasing number of transactions. The number of transactions in the Monitor is up by 37% compared to the previous quarter, and by 29% when compared to the same quarter one year ago. Although the number of transactions has increased in the Monitor over the past year, prices continue to show volatility.

For the market as a whole, Scottish house purchases during the second quarter of 2012 showed an increase of 9.2% on the same quarter of last year. For the month of June, the number of transactions was up 1.9% on the same month in 2011.