House prices in the west of Scotland fell by 6% in the three months to the end of September, reversing a recovery of equal size in the previous three months, according to Glasgow Solicitors Property Centre.
The report found that the average selling price in Strathclyde is now £129,000, around 13% lower than at the peak of the market in 2007 and £8,500 lower than it was three months ago. The recent falls in price took annual house price inflation to -5.4%.
The latest GSPC property market report is based on an analysis of sales through 200 GSPC member firms by Professor Gwilym Pryce of the Urban Studies Department at Glasgow University and includes more transactions in the west of Scotland than any other index.
james.a.kenny@estatesgazette.com
