Wednesday, October 13, 1999 Published at 07:08 GMT 08:08 UK
Scotland resists UK's house price rises
The Halifax has recorded a fall in house prices in Scotland
House prices in Scotland have fallen by more than 2% in the last three months and are now more than 1% lower than this time last year.
The cost of buying a home in the UK has risen by more than 4% in the past three months - the largest quarterly rise since the height of the 1980s boom.
Annual house price inflation stands at just under 9% - again the highest rate for ten years.
Late 1980s boom
But that is still well below the rates of the late 1980s when prices rose by more than 30% a year.
Although Scotland has recognised "hot spots" in Edinburgh, Glasgow and Aberdeen - prices in other areas, where the economy is weaker, are still flat.
The average price of a house in Scotland is now just over £60,000.
The average homebuyer spends almost 20% of their gross annual income on mortgage payments compared with almost 30% in 1990.
Geoff Mackerel, the Halifax's general manager in Scotland, said: "Scotland, I don't think has ever seen the same sort of fluctuations in house prices that were seen in other parts of the country, and to some extent that's an advantage to house buyers in Scotland."