Suprise Property Rises in Scotland
Written by JDPGlobal | Sunday, 17 July 2005
Helped by huge growth this year and a solid level of activity among buyers, North Ayrshire has emerged as a new property hotspot in Great Britain.
Data suggests that this region has witnessed the highest increase in prices across the whole country during the second quarter of 2005. Traditionally North Ayrshire has been significantly lower than the national UK average. In addition, average prices have risen at six times the rate of the average annual inflation rate.
Property experts think that the main reason for this growth is fundamentally due to infrastructure improvements, (like the road networks) and a growth in affordable housing which have transformed the area into a more desirable property location.
Northern Ireland and Scotland, where the average house value was just under £116,000 in the second quarter, up 10.1 percent on like for like figures for 2004, were the only other regions with similar remarkable growth.
House price growth is modest in the south-east, where the data shows a 2.3 percent increase. This leaves the average cost for a house at £180,000, and on greater London the recorded rise is 3.0 percent to £220, 5000, marginally less than in inner London where the increase was 3.2 percent to an average value of £229,700.
