Wales and Scotland 'generate largest house price growth'

19-Jan-2007

First time buyers looking for a home in either Wales or Scotland may find themselves unable to purchase a property under £100,000, research reveals.

According to data published by Halifax, there are now no counties across the UK with an average house price below £100,000, with Wales and Scotland reporting the highest levels of house price growth over a five year period, potentially excluding many first time buyers.

Out of the country's 101 counties, 19 had average house prices over £200,000, compared with five counties in 2002.

"Wales, Scotland and, to a lesser extent, Northern Ireland, have dominated the UK county league table for house price growth over the past five years," said Martin Ellis, chief economist for Halifax.

"Southern England, by contrast, has lagged behind," he added.

With 90 per cent of the lowest growing counties located in southern England, counties such as Hampshire and Oxfordshire may be ideal locations for first time buyers looking to become homeowners.

To find out about all about different ways of financing a first home, see our section ‘Affording Your First Home’.

Halifax is a UK-based financial services provider, offering a number of products and services including credit cards and mortgages.

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