Scotland tipped as property hotspot

Permalink: Scotland tipped as property hotspot
by Kay Murchie

Many experts are predicting price falls this year however, new research from Halifax Estate Agents has said that the Scottish town of Lochgelly will see the highest house price inflation this year.

Scotland leads the UK’s top places to invest in property and along with Lochgelly, the Scottish towns of Paisley, Greenock and the city of Aberdeen are expected to out-perform the rest of the property market during 2008.

Colin Kemp of Halifax Estate Agents said some areas will continue to be in high demand this year with property prices increasing accordingly in spite of the expected gloomy outlook across the market generally.

Mr Kemp added those areas that are likely to record the biggest price gains are likely to be those with a combination of good transport links to a major populated area and relatively low average prices. A number of areas will see an increase in prices as a result of significant infrastructure projects.

The Halifax is also predicting Chatham and other Medway towns in Kent to be property hotspots boosted by the planned opening of high-speed commuter services from central London to north and east Kent late next year.

In addition, increased investment in Liverpool’s European Capital of Culture 2008 will see house prices increase in the city while Monmouthshire in Wales is also set to see property values rise faster than the national average.

Finally, across the remainder of the country, the estate agent is predicting that property prices will stay level in 2008 with ‘worsening affordability and weakening economies’ resulting in prices getting cheaper in the midlands and northern England.