Scotland sees impressive price growth

Posted: 24 Dec 2007 09:57:51 GMT

The largest property price growth was witnessed in Montrose, Scotland throughout 2007.

The largest property price growth was witnessed in Montrose, Scotland throughout 2007.

That is according to new figures from Halifax, which also revealed that the average house price in all UK towns is now above £100,000 for the first time.

In addition, 48 per cent of all towns have an average price above £200,000, compared to just 21 per cent in 2002.

"In 2007 thirteen of the top twenty towns recording the biggest price rises are from Scotland and the south-east," said Halifax chief economist Martin Ellis.

"In 2006 the most affordable town was Lochgelly with an average price of £97,121; today this distinction goes to Nelson with an average price of £108,320. There are now no towns in Britain with an average price below £100,000. Nearly half of all towns have an average value above £200,000.

"Strong economic conditions, highlighted by high employment levels, have boosted housing demand and driven up prices. Relatively good housing affordability in Scotland has also permitted strong price growth in several towns north of the border," he continued.

The report also revealed that 12 UK towns have an average house price above £500,000.

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