Research by the Bank of Scotland index of leading economic indicators suggests that economic growth in Scotland is expected pick up next year.

In news that may be of interest to those seeking to purchase a new home in the region, the data indicates that growth will rise above its long-term average in the first quarter and potentially increase further as the year progresses.

Group economist at Bank of Scotland Tim Crawford stated: "While recent interest rate rises and unsettled financial market conditions point to subdued economic growth in Scotland in the second half of 2007, the outlook for next year is better."

Mr Crawford added that the potential for above average growth in 2008 is due to bolstered confidence on the part of consumers, increased employment in the country and a buoyant business sector.

According to research by the Registers of Scotland Executive Agency, the average Scottish house price is currently £149,292.