THE property market in Scotland appears to be bucking the downward trend despite the credit crunch and the mortgage shortage, housing experts say.
Market analysts say that although growth in prices will slow dramatically this year north of the border, most areas will still record an increase.
Graeme Hartley, director of the Royal Institution of Chartered Surveyors Scotland, said the general
feeling within the industry was that the Scottish market was "holding up well".
"The figures reflect a housing market that is holding its breath, waiting to see what will happen in the financial markets, but certainly not one heading for a crash. In fact, it is quite the opposite in Scotland."
Andrea Gibson, managing director of myhouseprice.com, added: "Many headlines relate to the market in England, but in Scotland, while we've seen a slowing down of the market, there hasn't been a dramatic fall in prices. I don't believe it (the market] will crash."
First quarter figures point to house price growth in Edinburgh being around 2%, compared with the double-digit inflation that has been the norm in recent years.
Similar 2% rises are forecast for the Glasgow area, where homeowners have also previously enjoyed much larger annual price hikes.
Aberdeen's average prices rose by 26% last year, thanks to a strong local economy, but growth is expected to drop this year. Dundee is also expected to slow following 18% average rises last year.
The full article contains 242 words and appears in Scotland On Sunday newspaper.
