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Last Updated: Tuesday, 13 April, 2004, 14:29 GMT 15:29 UK
Scottish house prices accelerate
Houses - generic
Price inflation in Scotland is higher than in the south
House prices in Scotland are continuing to rise, according to official figures.

Growth for the year to February was 26.2% - up from 23.3%, and higher than in southern regions.

Figures for the year to January had shown values in Scotland surging faster than anywhere else in the United Kingdom.

However, Scotland is still the cheapest place to buy a property with average costs at �99,090 - compared with �243,231 in London.

The latest statistics have come from the Office of the Deputy Prime Minister.

'Bullish figures'

Mark Hordern, of Glasgow Solicitors Property Centre (GSPC), said: "Our latest report, issued just days ago, showed house prices in the west of Scotland are now rising faster than they have done in the last four years.

"The report from the Office of the Deputy Prime Minister supports that view. All of that is consistent with GSPC reports that house prices growth is accelerating."

Mr Hordern added: "If anything, it is more bullish than our reports, which put house price inflation at 22 per cent."

In March myhouseprice.com had compiled information on local housing markets within Scotland.

It showed that some of the fastest growth in prices had taken place in Glasgow, with an annual rate of increase of 26%.




SEE ALSO:
UK housing market remains robust
08 Mar 04  |  Business
Most towns too dear to start out
06 Mar 04  |  Scotland
New rise in Scottish house prices
18 Feb 04  |  Scotland


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