Bussiness
House prices rise by 5.4 per cent to an average of £200,000
Hello and welcome to our daily digest of business, financial and economic news from around Scotland.
1 Annual house prices accelerated in Scotland by 5.4 per cent in the 12 months to August this year, figures released by the Office for National Statistics (ONS) have shown.
In Scotland, average house prices increased to £200,000, whereas in England and Wales prices increased to £310,000 (2.3 per cent growth) and to £223,000 (3.5 per cent growth) respectively.
The increase marks the sixth month in a row of annual price rises, following eight months of annual decreases.
Today’s inflation figures mean there is likely to be a cut to interest rates, which should boost the housing market
ALAMY
The ONS figures revealed that in September the average private rent in Britain was £1,295 per month, which represents a £101, or 8.4 per cent, increase.
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