House prices in Scotland fell for the first time in a year in August, breaking a “powerful spell of growth”.
According to Gordon Fowlis, regional managing director of Your Move writing in the LSL Property Services/Accadata House Price Index commentary, house sales in August were 8% below the typical seasonal trend.
In addition, sellers avoided the market and buyers postponed purchases. Predictably, the pause was attributed to pre-referendum nerves and did not “poison the longer-term health of the market”.
Despite the blip, it was the strongest August for house sales since 2007 with 60,000 properties sold in Scotland, which was up 17% on the same period in 2013.
