» Scotland property prices rise the most

Average property price is now £200,500

Article Published: 12th January 2010

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Scottish home owners will be pleased to know that their property prices are amongst those making the best recovery in the UK. Scotland’s 2.4 per cent price recovery is the highest with Wales beaten in to second place with a 2.2 per cent recovery and the East and London rising by 1.1 percent.

Only the West Midlands failed to see any price increase with its average property price 1.1 per cent lower than they were 12 months ago. Northern Ireland is still very much in the doldrums according to the Government figures released for November 2009.

The latest figures show that the average home value has once again gone through the £200,000 barrier after a rise of 1.7 per cent in November; the average home in the UK now costs £200,454 a figure that is higher by 0.6 per cent than the same period in 2007.

The Royal Institute of Chartered Surveyors has also produced figures to suggest that the rate in which prices have been rising have since slowed due to a lack of available properties coming on to the market. The RICS said that 30 per cent more of their surveyors had reported a rise in prices with demand outstripping supply causing the market to stall once again, they also said that many members seeing signs of enquiries from new buyers dropping to the lowest level since January 2009.