Skip to main contentAccess keys help

[an error occurred while processing this directive]
BBC News
watch One-Minute World News
News image
Last Updated: Friday, 20 October 2006, 11:42 GMT 12:42 UK
Scots house price rise 'above UK'
Estate agent

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% a year.

The survey also suggested that the average house price north of the border was almost �123,000.

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 �100,000 was Lochgelly in Fife.

Average house prices
Aberdeen �159,679
Dundee �133,805
Edinburgh �193,815
Glasgow �143,390
Inverness �152,244
Stirling �150,347

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% increase in house prices over the past year, the cost of properties in Scotland was less than the British average.

Tim Crawford, the bank's chief economist, 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."

Mr Crawford said that while Scotland remained the most affordable place in the UK, the price gap with England had narrowed continually since September 2003.

SEE ALSO
More homes in stamp duty bracket
07 Oct 06 |  Scotland
Housing boost for 'key workers'
02 Oct 06 |  Business
House price surveys explained
14 Sep 06 |  Business
House price rise defies rate hike
14 Sep 06 |  Business
New first time buyers' hot spot
13 Sep 06 |  Tayside and Central
House prices show strong growth
11 Sep 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

AmericasAfricaEuropeMiddle EastSouth AsiaAsia Pacific