In Scotland average house prices fell by 5% between July and September, compared to a 4.6% drop across the UK.
However over the last year house prices Scotland’s house prices declined by 7.1% - that's the slowest rate of decline in the UK.
Fionnula Early, Nationwide's chief economist, said the decline in Scotland is not unexpected.
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"Scotland was never going to be completely immune from what's going on in the rest of the economy.
"People's confidence in the housing market, and the way they feel about whether they should enter the market, has changed in just the same way as the rest of the UK."
Edinburgh and Aberdeenshire prices are holding up better than most with a decline of only 3% and 2% respectively.
Glasgow saw the most notable drop in house prices at 8%.
"Scotland is still much better than the rest of the UK in terms of house price to earnings ratio and the general affordability of property," the chief economist added.
"However, people are beginning to be more realistic about where the economy is going.
"People are beginning to wonder about jobs and that is affecting how they feel about other things - about whether now is the time to stay put and get their finances in order."
(GK/JM)
