Scotland’s housing market may have shaken off its reputation as an underperformer compared to the UK in recent years, but its longer term outlook is not so promising. Unfavourable demographics and a heavy reliance on the deteriorating public sector and the oil and gas sector will mean that, over the next decade, Scottish house prices rise, on average, by about 0.3% less than the UK each year. This means that, if we are right in thinking that UK house prices will increase by about 2.5% per annum, Scottish house prices will rise by about 2.2% per annum.
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