NewsArticle-06-01-2009

The Scottish home building industry today welcomed Nationwide’s latest house price index which shows that Scotland remains the best performing part of the UK – even recording a   slight seasonally adjusted increase in the last quarter of 2008 (the only part of the UK to have experienced any rise in prices for a year).

Jonathan Fair (right), Chief Executive of Homes for Scotland, the organisation which represents companies building 95% of the country’s new homes, said:

"With Scotland also found to be the most optimistic area of the UK with over half of consumers expecting house prices to stay the same or slightly rise over the next six months, these figures demonstrate the underlying strength of sentiment within our local housing market.  

“This is especially welcome at the start of the new year and, coupled with lower interest rates, hopefully bodes well for future performance.  Key, however, is the overall availability of mortgage finance.  The UK Government must therefore act NOW on the recommendations of Sir James Crosby if it is to give the industry a fighting chance of recovery in 2009.”

Ends

Enquiries to:

Jennifer Kennedy, Homes for Scotland – 0131 455 8350 

Note to Editors:

1.  Click here for further details of the Nationwide's house price index.

2.  Homes for Scotland represents the country’s home building industry which:

-  is the largest source of private investment in Scotland
-  is the largest user of the planning system in Scotland
-  in 2007 built 20,000 new homes, contributed £6bn to the economy and directly impacted the employment of 100,000 people