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Has Scotland Escaped The Worst Of The UK Property Price Falls?

As the general UK housing market continues to fall there are signs that Scotland may well be fairing better than others in the UK. Figures from the Council of Mortgage Lending show that Scotland’s share of new mortgages in the UK actually increased by a third since the start of the year. While there was still a 20% fall over the period and a 40% fall in the number of transactions over the year, this was far better than the other constituents of the UK.

There signs are that Scottish house prices are holding up better than others in the UK, with many pointing to the fact that they did not race ahead as much as those in London and the South of England. It also appears that Scottish banks may well have been a little more cautious with regards to lending when the boom was in full flow, which has maintained the quality of their loan books.

As a consequence Scottish banks have not been forced to turn away as much business as their English counterparts, many of whom are feeling the affects of liberal lending criteria in the boom times. Does this add more strength to the argument for Scottish independence?

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