August 15, 2007
Scottish property boom stalls
Could the property boom that has lifted property prices in Scotland be coming to an end? If you look at the property prices for the three months to the end of July 2007 the property values in Glasgow and Aberdeen have actually fallen by around 1.3 per cent when compared to the quarter before.
Interest rates have been blamed for this, with interest rate rising month after month increasing the cost of mortgages, which puts people off, especially when they are looking to borrow over their limit as many people do these days.
The problem is that property is very difficult to predict, are house prices at their limit and it is only a matter of time before the bubble bursts, or are we all reading too much into this and the property market will still steadily grow over the year?
Source [Scotsman]
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