Property market in Scotland revitalised, says report

First-time house buyers, buoyed by growing confidence and an improving economy, have helped drive up prices and sales in a “revitalised” Scottish property market, according to a report.

The average house price in Scotland hit £144,253 in September, up £952 (0.7%) on the previous month, LSL Property Services/Acadata house price index finds.

It also represents an increase of £647 (0.5%), compared with September last year, and marks the first time since January 2011 that the annual rate of change has been in positive figures.

Sales levels are also at their highest for five years.

Acadata chairman Dr Peter Williams said: “Earlier in the year we suggested that we would have to wait a few months before we could see whether the nascent recovery would be sustained.

“All the evidence shows it has been, and that it will continue.”