Homeowners happy to hear 'value of houses for sale in Scotland has risen'

The value of houses for sale in Scotland has increased for the first time in three years, a report has noted.

According to Knight Frank's Scottish Country House Index, released yesterday (July 8th), over the last three months the average cost of homes in Scotland increased by nearly one per cent.

It showed that the number of houses for sale in Scotland is rising as well.

Head of country house sales for Knight Frank Scotland John Coleman said: "It will give potential buyers and vendors the confidence that the market has now hit the bottom and is starting to slowly recover."

He added that "correct pricing is key" to seeing a boost in the property market and expected that the recovery "will be gradual".

Property owners with houses in the Lothian and Borders areas saw the highest increase in the value of their homes.

Houses in London have also seen a boost in their prices after Knight Frank revealed that their values increased by 20 per cent over the last year.