The price of a typical house rose for the third consecutive month in July, increasing by 1.3% on a seasonally adjusted basis. The 3 month on 3 month rate of change – generally a smoother indicator of the near term trend – rose from 1.0% in June to 2.6% in July, the highest level since February 2007.

According to the latest rental report from Scotland's leading online letting portal Citylets, people renting property are benefitting most from the beleaguered housing market, with a wide choice of properties available and rents continuing to fall across the country