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January 1, 2011

Scotland sees second-biggest rise in house prices

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by Gill Montia

Scotland sees second-biggest rise in house prices

East Dunbartonshire and Dumfries & Galloway have recorded the second-biggest rises in house prices among UK counties over the past year, according to Bank of Scotland’s (BoS) County House Price Survey.

Rises of 12% and 11% respectively bring the cost of the average home in East Dunbartonshire to £197,700, while in Dumfries & Galloway the typical dwelling changes hands for £139,578.

BoS housing economist, Suren Thiru, points out that over the past five years, Scotland has dominated the top ten in terms of house price growth by county.

Aberdeenshire is the best performing county, with the average house price rising by 46%, since the beginning of 2006.

However, for 2010, Conwy in Wales heads the list for house price increases by county, with homes putting on 13%.

Furthermore, half of the counties with the biggest rises are in the South, predominantly in areas with above average house prices.

Surrey is the most expensive county in the UK, with an average home costing £296,344, although according to the research, fourteen counties have an average house price in excess of £200,000.

Blaenau Gwent in Wales is the least expensive county (£86,385).

Looking forward, BoS is expecting UK house prices to remain flat in 2011, with “modest variations” across the country.


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