Scottish town tops 2007 price growth table


Mon 24th Dec, 15:32:49 GMT

Montrose, Scotland recorded the highest house price growth of any town in the UK in 2007, it has been revealed.

According to Halifax Estate Agents, the value of properties in the town rose by 39 per cent this year, with the average cost of buying a home there increasing from £123,494 in 2006 to £172,156 this year.

Other towns north of the border also saw impressive price growth, with prices in Peterhead rising by 33 per cent and the cost of getting on the property ladder in Inverurie rising by 29 per cent.

Martin Ellis, chief economist at Halifax Estate Agents, commented: "Relatively good housing affordability in Scotland has also permitted strong price growth in several towns north of the border."

"There are now no towns in Britain with an average price below £100,000. Nearly half of all towns have an average value above £200,000," he added.

It follows separate research unveiled last week by Halifax which said that first-time buyers are priced out of the market in 466 out of 483 towns in the UK.ADNFCR-1143-ID-18406321-ADNFCR


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