Outer Hebrides becomes the latest UK property hot spot
The Scottish Western Isles, also known as the Outer Hebrides has become the latest property hot-spot for people seeking a rural way of life.
According to official government data, house price inflation has risen to 31.5% compared with the national average of 8.3%. By contrast, prices are now falling on an annual basis in the country’s most expensive borough, London’s Kensington and Chelsea, where a typical home costs just shy of £1.3 million. In Outer Hebrides, where the total population is 27,400, the average property price on the islands sits at £114,625. A typical home on these sleepy islands saw £900 added to its value during July, and is worth £16,600 more than the previous years, the figure produced jointly by the Office for National Statistics and the Land Registry revealed.
While the Western Isles topped the annual table, at least four other local authority areas have price growth currently running at more than 20% a year. These include South Bucks (22.7%), Slough (21.9%), the London borough of Newham (20.8%), and Stevenage in Herfordshire (20.3%).
The ‘bottom five’ council areas were the city of Aberdeen, where prices are by 6.9%, Gwynedd in north-west Wales (down 5.6%), Dumfries and Galloway in Scotland (down 3.6%), Kensington and Chelsea (down 3%) and South Ayrshire in Scotland (down 2.7%).
The cheapest place to live in the country is Burnley, Lancashire, where an average home costs £75.000.
Written by: The Team | On: September 14, 2016