Scotland house prices climb by 83% over last 10 years
House prices in Scotland have risen by more than 80% in the past decade, a new study has suggested. This will impact mortgages and property sales for the foreseeable future. The BBC published the following report.
Research by the Bank of Scotland also showed that prices still trailed behind the rest of the UK. The average home north of the border sold for £111,780 in 2010 – an 83% increase on £61,039 in late 2000.
Penicuik in Midlothian recorded the biggest increase, where the average house price climbed by 179% from £61,824 to £172,476 at the end of 2010.
Irvine (172%) and Peterhead (171%) were the next best performers.
Across the UK as a whole, house prices rose by 91% over the same period.
But the Scotland gains trailed behind the rest of the UK, with only Greater London and the South East recording smaller rises over the decade.
The biggest house price increases were in the north of England, where they went up by 130%, followed by Yorkshire and the Humber (125%) and Wales (108%).
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