02 Jul 2014

Scottish cities becoming some of the most expensive places to live

Scottish cities becoming some of the most expensive places to live

Julian Scott, Partner, comments on the report that house prices in Scotland are some of the most expensive outside of London. 

Julian Scott, Partner, comments on the report that house prices in Scotland are some of the most expensive outside of London. 

The Scotsman has reported that Edinburgh and Aberdeen are now the second and fifth most expensive towns or cities in the UK to buy property, a Halifax report has revealed. 

Edinburgh has become the second-most expensive place per square meter for property, outside the South of England, with an average price of £2,214 per square meter. Aberdeen also made the top ten with an average price of £2,125 per square meter. 

However, as well as having the second and fifth most expensive cities, Scottish towns also made up five out of ten of the cheapest places to buy property in Britain and included Lanark, Greenock and Airdrie.  The lowest place for property prices was Wishaw with an average price of £925 per square meter. This is a stark contrast to the UK’s most expensive borough, Kensington and Chelsea, which have an average price of £10,854 per square meter. 

The growth in Edinburgh and Aberdeen is a result of the rapid property recovery in the Edinburgh market since the turn of the year and the continuation of the property boom in Aberdeen, which did not suffer in the recession and keeps rising in line with the success of the oil industry in the North-East.

Overall, Scotland has seen a 5 percent fall in the price of property per square meter whilst the UK as a whole has seen a growth of 13 percent since 2009. However, there is no guarantee house prices will continue to increase at such a rapid rate with the threat of interest rates increasing and the Banks’ more stringent lending policies.

Julian Scott, Partner


Please correct the errors below before submitting your request:

Get in touch

Our dedicated client contact team prefer to receive enquiries through our contact form. We'll endeavour to get back to you within 24 hours or during the course of the next working day.

Source of enquiry