Property News

Tuesday, September 12, 2006

Scotland shows sharp rise

According to government figures released yesterday, Scotland has seen a 9.3% rise in property prices over the last year. This outstrips the overall rise of 6% in the UK.

The average home in Scotland costs £140,460, lower than the UK average of £194,454. The most expensive area was Edinburgh and the Lothians, where the average price was £168,914, 5.5% up on the quarter and 9.8% up on the same quarter last year.

The biggest annual increase, 16.7%, was in the Highlands and Islands, where the average house price is now £129,295. Glasgow remains Scotland's biggest housing market, with sales totalling £1.5bn in the past quarter, 20% up on the corresponding period last year.

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