Property prices lowest in Scotland and Wales

Scotland and Wales are home to some of the most affordable housing areas in the UK, a new study has revealed, with average prices frequently coming in below £150,000.

A report from Halifax has noted that 98 per cent of towns in Scotland had an average flat price of £150,000, with 76 per cent of towns also containing semi-detached properties priced at similar levels.

Welsh towns also performed strongly in the survey, with average prices for semi-detached and terraced homes falling under the £150,000 mark in 89 per cent of towns.

However, when prices were compared with a 2006 Halifax survey on quality of life, south-east and central England performed more strongly.

"There are still some bargains to be had for first-time buyers and home-movers. Chesham [in Buckinghamshire] is the best value for money location in the country for flats, followed by Stowmarket [in Lincolnshire] for terraced properties," advised Halifax chief economist Martin Ellis.

With interest rates having risen to 5.75 per cent last week, areas in which first time buyers can afford properties are likely to attract higher levels of interest in the coming months.


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