The housing market - Scotland

Scotland is the most popular place for new home buyers with more people looking to move here than any other region in Britain. Scotland also boasts the most affordable town in the UK, with Lochgelly in Fife being the only place where an average property cost less than £100,000 at the end of 2006.

 
1. The statistics

• Average price of a property in Scotland: £139,836

• Monthly change: -2.2%

• Annual change: +12.3%

 
2. The outlook

•  Year on year growth

House prices increased in all regions in the first quarter of 2007, although Scotland has had the largest increase. There are big differences in property prices in various parts of Scotland, with the average property in Edinburgh being £194,078 while an average of £84,292 can get you on the property ladder in Eilean Siar. 

•  Most affordable for key workers

Key workers have the fewest affordability issues in Scotland. Only 15% of towns are unaffordable for all key worker groups in Scotland. However, nurses in Scotland face a difficult situation as 90% of towns are unaffordable to this group. 

•  Future focus

Regional variations, suggests Michael Samuel of Glasgow Solicitors Property Centre, are early indications of a slow down in growth later this year: "It is very likely that price growth will moderate at some point this year. There are tentative signs that the pace of price growth may already be slowing."

However it's hoped that housing issues will remain on the political agenda, with the Scottish National Party pushing to introduce a first-time buyer's grant of £2,000. They have also made a manifesto promise that 25% of all new housing will be reserved for affordable housing. With this they aim to attract an extra 1,000 first-time buyers each year.

3. Place to watch

Kingston Quay, Glasgow. This is a new development in the city recently highlighted as one of the top places attracting young professional buyers.

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