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Scotland tops 2006 for housing hotspot

Scotland proved the most popular destination for new home buyers in 2006, fuelling unprecedented price rises.

Previously ranked as the second most affordable place to buy a new home in 2005, prices over the last year have experienced high growth, to make it the third most expensive place to buy a new home in 2006.

Scotland emerged as a popular destination with continued inward migration driving up prices.

The average price of a new home in Scotland rose 13% in 2006, the highest annual price increase after London.

David Bexon, managing director of SmartNewHomes.com, says: “Key towns with strong economic growth and the considerable number of detached properties (as opposed to apartments) that are still being built here have significantly impacted on Scotland’s recent success and I would predict prices to continue to rise in 2007.

“Cities such as Edinburgh and Glasgow have spearheaded this growth and towns such as Stirling, now boast some of the most expensive new homes in Scotland.

“Prices in major Scottish towns are fast catching up with those found in London and detached properties are achieving a premium, in part fuelled by the number of professionals moving into the region to take up roles in the cities flourishing business districts.”

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