Dramatic price rise for new homes in Scotland
Friday, 12 Jan 2007 10:35
Prices for new build properties in Scotland have risen fast
New-build home prices in Scotland have risen dramatically since 2005, making it the third most expensive place in the UK to buy a new home, according to a new study.
Just two years ago Scotland was the second most affordable place to buy a new-build home in Britain, but a 13 per cent rise through 2006 has seen the region rise seven places in the affordability table.
SmartNewHomes.com, who conducted the research, says Scotland's popularity as a destination for new home buyers has fuelled "unprecedented" price rises.
"The new homes market in Scotland has proved to be one of the real hotspots of 2006, with rapidly growing prices that now rival those traditionally exclusive to the south of England," said David Bexon, managing director of SmartNewHomes.
"Key towns with strong economic growth and the considerable number of detached properties (as opposed to apartments) that are still being built here have significantly impacted on Scotland's recent success and I would predict prices to continue to rise in 2007.
"Cities such as Edinburgh and Glasgow have spearheaded this growth and towns such as Stirling, now boast some of the most expensive new homes in Scotland.
"Prices in major Scottish towns are fast catching up with those found in London and detached properties are achieving a premium, in part fuelled by the number of professionals moving into the region to take up roles in the cities flourishing business districts."
New-build home prices by region
1 - Greater London, £439,075
2 - South East, £317,567
3 - Scotland, £269,893
4 - East Anglia, £253,605
5 - South-west, £250,836
6 - West Midlands, £237,888
7 - Wales, £230,133
8 - East Midlands, £229,605
9 - North, £222,155
10 - North-west, £221,192
11 - Yorkshire and the Humber, £214,467