Over the course of twelve months, the cost of maintaining a home increased by a little over 1% in Scotland.  Although a marginal increase has occurred, the cost is still almost 2% lower than the average cost of maintaining a home just three years ago.

The main percentage of the increase is due to electricity, gas expense and maintenance costs.  The decrease in housing which has taken place over the last three years is a result caused solely by the fall in mortgage payments.  The steady decline in interest rates can be blamed for the fall in mortgage payments.  Actually, mortgage payments were the only housing expense to shrink over the course of the last three years.

Utility bills on the other hand, have increased by 20%, to an average of 259 pounds.  This has been the area which has seen the biggest jump.  Just on the heels of an increase in utilities, are overall maintenance and repair at an increase of 17%.

Scotland, relative to other parts of the UK, has been the exception to the rule when considering the fall in home prices.  Since the year 2008, the region has seen the third smallest decline in prices.  Wales and Northern Ireland were the only two areas which saw less decline.  But, the cost associated with maintaining a home has fallen in London over the last three years by almost 6%.  This figure led the region.

The housing economist of the Bank of Scotland, Suren Thiru, discussed the influences over the Scottish housing market for the last three years, saying: "Household finances remain under pressure with the significant drop in mortgage payments since 2008 mostly offset by increases in other household bills. Rising utility bills have been a clear driver behind this, along with increases in maintenance costs and council tax charges. The current strain on household finances is particularly concerning at a time when earnings growth remains weak."