Home price rises not good news for all

Perhaps it should come as no surprise that Perth and Kinross is in such high demand among househunters. The area regularly tops surveys of the most desirable places to live, thanks to its location, amenities and, of course, its people.

But the news that average house prices have risen beyond the levels of oil-rich Aberdeen should be cause for caution.

While Aberdeen’s property prices have been driven up by inflated earnings in the North Sea, the boom here has more to do with the widening gap between supply and demand.

It is a shortage of housing stock that has pushed the average price beyond £203,000, not an abundance of highpaying jobs, and if the gulf continues to widen there’s a real danger that young families and essential workers in fields such as health and education will struggle to afford a home of their own.

Council chiefs have said 1,000 new homes are needed every year to meet existing demand in Perth and Kinross and planners are currently earmarking potential sites for the new Local Development Plan.

Proposals for new housing often run into opposition from residents who fear for their own quality of life but this is no time for nimbyism.

Rocketing prices might be good news for sellers but for those seeking to clamber aboard or climb the property ladder, every increase nudges their dreams a little further out of reach.