Price growth in Scotland still on the rise

House price growth in Scotland has outpaced that seen in the UK as a whole as the average price catches up with the UK average in some areas, Bank of Scotland has revealed.

The bank's study has shown that areas such as Aberdeenshire now have an average price of over £200,000 – in excess of the UK average of £198,898.

The research also showed that terraced properties have seen price rises of some 206 per cent over the last ten years, rising from an average of £50,104 in 1997 to a current level of £153,293.

"House prices in Scotland are still the most affordable in the UK, despite an annual rise of 14.2 per cent," commented Martin Ellis, chief economist for the Bank of Scotland.

"This increase is well above the UK average of 10.7 per cent. The average price of a house in Scotland is currently £141,158, which is 29 per cent less than the UK average of £198,898," Mr Ellis added.

A recent study from Nationwide suggested similar growth, putting the annual rate of price inflation at 12 per cent.

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