‘Scotland records 2007’s biggest house price’

Homes north of the border experienced the biggest house price rises during the course of 2007, according to findings from Halifax.

The financial services provider’s latest house price index suggests that Scotland recorded a house price increase of 13.1 per cent – the only double-digit increase of any region in the UK.

In news that may interest those looking to buy a house in Scotland, the data also indicates that Scottish properties continue to be the most affordable in the UK.

With an average house price of £144,897, the region’s properties are more than a quarter (26 per cent) cheaper than the UK average of £197,071.

"House prices for the UK as a whole are predicted to be flat during 2008 but there are likely to be regional variations. Small price rises are expected in the south and Scotland," comments Halifax chief economist Martin Ellis.

In other news that may interest those looking to buy or sell a house in Scotland, a recent study by Co-operative Bank Mortgages suggested that Britons plan to spend £13.7 billion on green home improvements.