Falling property prices good news if you can take advantage

Falling property prices are good news – but only if you can take advantage of them. The latest figures from Bank of Scotland show an annual drop of 7.5% in house prices across Scotland, bringing the value of the average house down to £134,191.

Estate agents might normally like to talk up the market, but they think the price plunge is slightly deeper. Alison Hatrick, Scottish spokeswoman for the National Association of Estate Agents (NAEA), said: "The typical fall across Scotland is around 10%. Of course, the price of some types of property has dropped even further, particularly new developments where there is more supply than demand," reports the Sunday Herald.

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