 Irvine has been named the top property hotspot in the UK |
House prices in Irvine have risen faster than anywhere else in the UK, according to a new report. The North Ayrshire town saw a 44% rise in house prices over the past year.
Bank of Scotland (BoS) statistics for the second quarter showed the average house prices in the coastal town soared from �69,536 to �100,249 over the year.
Motherwell also performed well with an average price of �109,154 (up 41%). Economists said the growth was due to good commuting links and affordability.
Fraserburgh replaced Lochgelly as the country's most affordable location, after the Fife town saw house prices rise by 22% to �69,894 over the last year.
The average house price in Fraserburgh was only �64,974 and it was also the most inexpensive town in the UK.
Overall house price growth in Scotland slowed in the first six months of the year.
The statistics showed the average house price in the country was �107,294 compared to the UK average of �162,850.
The annual rate of house inflation in Scotland was 12.5% - above the UK average of 3.5%.
Tim Crawford, economist for BoS, said Scotland's housing market continued to be the most affordable in the UK.
Mr Crawford said: "Average house prices in Scotland are one third lower than the UK average, and more than 50% lower than in Greater London.
Highlands price climb
"Towns with good commuter links to Glasgow have seen the best house price performance in Scotland over the past year, particularly those with average prices close to the �100,000 which have seen interest from first-time buyers."
In local authority terms, North Lanarkshire and Highlands saw the fastest rise in house prices north of the border, at 28% and 25% respectively.
The statistics showed the Highlands property market was buoyant, with prices in Inverness climbing by 25% for the year to �148,251.
Glasgow witnessed a 15% increase in prices for the year. In Edinburgh, house prices appeared to have steadied with only a 2% rise over the past 12 months.
Musselburgh was the best performing market near Edinburgh with a gain of 27% over the past year.
Its average price of �145,613 was almost 20% less than the average price in Edinburgh and buyers have been attracted to its seaside location, historic surrounds and convenient travel links.
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Towns with good commuter links to Glasgow have seen the best house price performance in Scotland over the past year
