23
Oct
Scottish property prices up 14.2%
House price growth in Scotland remained robust during the third
quarter and continues to outperform much of the UK, new data has
shown.
Figures from the Bank of Scotland (BoS) showed that annual house
price inflation stood at 14.2 per cent during the period, taking
the average house price to £141,158.
This compares with annual growth of 10.7 per cent across the rest
of the UK and an average price of £198,898 for a
property.
However, despite the narrowing of the gap between Scottish property
prices and the rest of the country, it remains a good bet for
investors due to its relative affordability, according to Martin
Ellis, chief economist of the BoS.
"House prices in Scotland are still the most affordable in the UK,
despite an annual rise of 14.2 per cent," he said.
Edinburgh, Aberdeen and Inverurie in Aberdeenshire are the only
three places in Scotland where the average price of a property
exceeds £200,000, according to BoS' findings.
