Strongest Growth in Scottish House Prices

Filed Under Market News, Renting news, Scottish Property News, Uncategorized by DanCookson | Leave a Comment

The latest figures from DCLG (Department for Communities and Local Government) have just been released and make for interesting reading. Scotland has seen the highest annual growth of all the home nations. Annual average house prices rose in England (6.6 per cent), Scotland (7.1 per cent) and Wales (1.3 per cent), but fell in Northern Ireland (-13.7 per cent).

Prices for property bought by first time buyers grew faster than property bought by former owner occupiers. This suggests that the first rung of the property ladder is getting higher and harder to reach which will inevitably lead to more people within the private rented sector and potential upward pressure on rents. We will see if this is so in next month’s release of the Citylets Rental Report for Q1 2010.

Download the DCLG report here:

http://www.communities.gov.uk/publications/corporate/statistics/hpi012010