Bank of Scotland

Aberdeen fares best in Scotland since the housing boom

18 February 2012

Rochford in Essex and South Lakeland are the only two local authority districts in the UK where house prices are currently higher than they were in 2007, according to the latest research from Bank of Scotland. Aberdeenshire is the only local authority district in Scotland in the UK top 20, however with a 7% fall in average prices during 2007-2011.
 
Martin Ellis, housing economist at Bank of Scotland, commented:
“Scotland, like the rest of the UK, has been hit hard by the economic downturn of the last few years. There is no area in Scotland where house prices are currently higher than they were at the peak of the boom in 2007 although a number of places, including Aberdeenshire and Highland, have weathered the storm relatively well.
 
"Across the UK, a striking feature of our analysis of the areas that have fared best and worst in the past four years is a distinct north-south divide. Those areas that have weathered the storm best are nearly all in the south of England whereas those areas worst affected are all outside southern England."

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