According to the latest Scottish House Price Monitor from Lloyds TSB property prices in Scotland have continued to increase, and over the past quarter most areas have shown an increase in property prices.

The report showed that there had been continued recovery in the Scottish property market, with the average property price in Scotland rising to £160,074 in the three months to the end of January according to the report.

Compared to the previous quarter the property price increase for the latest three month report was up by 5.9 percent. The biggest property price increase was seen in Dundee, where property prices increased by 16.3 percent over the past quarter.

In Edinburgh there was an increase of 11.4 percent, and there was an increase of 11.2 percent in property prices in the south west of Scotland. In the south ease the house price increase for the quarter came in at 10.4 percent.

The north of Scotland saw property price increases come in for the quarter at 8.4 percent, and in Aberdeen the increase was recorded at 7.3 percent.

However, there were areas of Scotland where property price drops were recorded for the quarter, which included a 7.6 percent in central areas and a 1.6 percent drop in Glasgow.

The report stated that there were signs of recovery in the property market in Scotland, but the figures were based on low levels of activity. One of the officials involved in the research stated: “Although a house price recovery is evident in Scotland, it is based on much reduced levels of activity. Nevertheless, the Scottish housing market is now into recovery.”

The report added that between February 2008 and February 2009 there was a 65 percent fall in property transactions in Scotland.

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