SCOTLAND’S HOTTEST PROPERTIES

Motherwell prices soar as Scotland outperforms UK property market

SCOTLAND has enjoyed the highest average growth in house prices in the UK, says property website Zoopla.

Motherwell was the best performing Scots town but Kirkcaldy was our worst among those experiencing the weakest price increases.

The total value of Britain’s homes grew by an estimated £83billion in 2018, to reach £8.29trillion.

The increase has added about £2860 to the average price of a home.

The general uplift has happened despite uncertainty over Brexit and stretched affordability when comparing house prices with incomes – although some parts of Britain have seen values fall.

Across Britain’s regions, property prices in Scotland have seen the biggest growth over the past year, with a 6.43 per cent increase. At the other end of the spectrum, property values in London have dipped by 1.67 per cent. Richard Donnell, insight director at Zoopla, said: “Values in London have grown significantly since 2010 but multiple tax changes and affordability pressures are resulting in values falling back.

“In contrast, affordability levels remain attractive in many areas outside southern England, and on the back of rising employment and low mortgage rates we see values outperforming the rest of the country, a trend we expect to continue into 2019.”

Ryde, in the Isle Of Wight, has seen the biggest house price increase over the past year, with double-digit growth of 10.24 per cent.