Latest House Price Index 2006-10-20Posted by clype in Money, Scotland, Statistics.
|House prices in Scotland are rising at nearly twice the UK national rate, according to new research.The Bank of Scotland’s quarterly house price index found that prices were rising by an average of 14 per cent/year.
The survey also suggested that the average house price north of the border was almost 123 000GBP.
However, it also found that the typical home in Scotland cost less than half the price of an average home in Greater London.
The bank’s index confirmed that Edinburgh continued to have the highest prices in Scotland.
It also suggested that some of the biggest rises were to be found in Oban and Kilmarnock.
The only town in Scotland where the average price of a home was less than 100 000GBP was Lochgelly in Fife.
Average house prices
In July, ‘The Bank of Scotland’s’ last quarterly index suggested that Scotland had the most affordable housing in the UK.
It found that despite a 17.3 per cent increase in house prices over the past year, the cost of properties in Scotland was less than the British average.
The bank’s chief economist Mr.Tim Crawford said:
‘Scotland continues to deliver house price growth above the UK average.
‘Only Northern Ireland has seen average prices climb faster over the last 12 months.’
The bank’s chief economist said that while Scotland remained the most affordable place in the UK, the price gap with England had narrowed continually since 2003-09.
- ‘Scots house price rise ‘above UK’‘, BBC NEWS, 2006/10/20 11:42:15 GMT