Scotland and south-east see biggest house prices in 2007

Permalink: Scotland and south-east see biggest house prices in 2007
by Kay Murchie

According to a survey by Halifax Estate Agents’, during 2007 Scotland and south-east England experienced the biggest house price rises in 2007.

Montrose in Angus saw the strongest growth with prices increasing 39% on average while Winchester, Hampshire was slightly behind with a 39% increase.

Housing in Scotland has been ‘relatively affordable’ which has resulted in a leap for further significant house price growth according to the survey.

The Halifax said property price growth in the two areas reflected a ‘robust employment market and record levels of net international migration’.

The Halifax added that employment in Scotland had increased by 125,000 during the last 5 years, while in 2006 immigration increased the population by 22,000. In the south-east of England, unemployment remained low, with 27 areas having unemployment rates under 1%.

The survey established that there are now no British towns with an average price below £100,000. Southern towns and cities remained the most expensive places to live.

London’s Kensington and Chelsea remains the most expensive place to live while Nelson, Lancashire was the most affordable town, with the average property price below £110,000.