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The latest house price index issued by the Department for Communities and Local Government (DCLG) provides yet more evidence that the decline in house prices is slowing.  It also confirms that prices in Scotland have proved far more stable than elsewhere in the UK.

According to the DCLG, prices across the UK were 13 per cent lower in April than they were a year ago; an improvement on the 13.6 per cent fall recorded for the previous month.  The department attributes the change to a rise of 1.1 per cent in prices between March and April this year.  Over the three months to the end of April, prices were down by 3.0 per cent, again better than the 3.9 per cent fall in the previous three months.

Northern Ireland has seen the biggest reversal in prices, down by almost 23 per cent compared to the same time last year.  But Scotland saw the smallest decline in prices, down -8.6 per cent compared to -13.2 per cent in England and -10.3 per cent in Wales.  The average house price in Scotland is reported as £154,387.

Despite marked declines in price elsewhere and more stable prices north of the border, Scotland remains one of the most affordable places to buy property in the UK.  Only Wales and the North of England have lower average prices.