Housing market takes a dip

TALK of a resurgence in the housing market may have come too soon for East Renfrewshire.

In the latest quarterly figures from Registers of Scotland, prices have dipped to £179,372 between January and March this year.

This is a drop of more than £20,000 (10.9 per cent) from the average between October and December 2010, when house prices in the area were at an average of £201, 210.

Last year, between January and March, the average was £197,229.

Greg Wilkinson from Allen and Harris estate agents in Newton Mearns believes people need to be “more bullish” about selling: “It comes down to people being too wary of the economic climate and part of that is because of scare stories such as this report.

“Statistics like this can be too general and do not compare like for like.

“I believe that locally, the market is performing well and the dip is not anything to worry or be concerned about”.

Michael Luck, managing director of Slater, Hogg and Howison, blamed the quarterly dip on subzero weather but echoed Mr Wilkinson’s feeling, saying “it’s to short a window to draw any conclusions”.

Glasgow saw a moderate decline in the past year of 1.4% in the last year and a drop of 7% in the last quarter.

Across Scotland, the total number of sales dropped by more than 12% this year compared to last.