23 Oct

Scottish property prices up 14.2%

Scottish property prices up 14.2%

House price growth in Scotland remained robust during the third quarter and continues to outperform much of the UK, new data has shown.

Figures from the Bank of Scotland (BoS) showed that annual house price inflation stood at 14.2 per cent during the period, taking the average house price to £141,158.

This compares with annual growth of 10.7 per cent across the rest of the UK and an average price of £198,898 for a property.

However, despite the narrowing of the gap between Scottish property prices and the rest of the country, it remains a good bet for investors due to its relative affordability, according to Martin Ellis, chief economist of the BoS.

"House prices in Scotland are still the most affordable in the UK, despite an annual rise of 14.2 per cent," he said.

Edinburgh, Aberdeen and Inverurie in Aberdeenshire are the only three places in Scotland where the average price of a property exceeds £200,000, according to BoS' findings.

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