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Last Updated: Saturday, 18 February 2006, 11:51 GMT
Housing value 'continues to rise'
House - generic
Scotland's private housing stock continues to increase in value
The value of Scotland's private housing stock has increased by 138% to more than 190bn over the last decade, according to a study.

The Bank of Scotland (BoS) report also found the value of the UK's housing stock trebled over the same period from 1.1 trillion to 3.4 trillion.

Edinburgh had the highest value of housing stock at 27bn - greater than Glasgow and Aberdeen combined.

BoS economist Tim Crawford said Edinburgh was the "jewel in the crown".

The bank said that in the past year Scottish houses have risen in value by 17% compared with 6% growth in England.

Glasgow's private housing stock was valued at 17bn and Aberdeen's 10bn.

PRIVATE HOUSING STOCK VALUE
Edinburgh - 27bn
Glasgow - 17bn
Fife - 12bn
South Lanarkshire 11bn
Aberdeenshire - 10bn
Highland - 10bn
North Lanarkshire - 8.8bn
Aberdeen City - 8.1bn
Perth and Kinross - 6.5bn
West Lothian - 6.5bn

Westminster had the most expensive private housing stock in the UK at 40bn.

Seven of the 10 local authorities with the most valuable private housing stocks were in London. Edinburgh was ranked seventh in the UK.

Fifty five percent of the UK's housing wealth was in southern England, while 33% was in northern and middle England.

The study found that 12% of the value of the housing stock was in Wales, Scotland and Northern Ireland, despite the regions havingg 16% of the UK's population.

'Good shape'

BoS found that the Western Isles witnessed the greatest rise in value of homes since 2000 - up by 132%, followed by the Highlands at 128%.

Aberdeen saw the lowest rise in Scotland over the same period, with a 61% increase.

The value of the UK private housing stock - 3.4 trillion - was more than three-and-a-half times the outstanding mortgage debt of 967bn in 2005.

Mr Crawford said: "The Scottish private housing stock increased in value by nearly 30bn in 2005 and is now worth a record 190bn.

"Over the past 10 years the increase has been more than 100bn. Edinburgh is clearly the jewel in the crown of the Scottish housing market.

"This increase in the value of housing stock highlights that household balance sheets are in good shape.

"Housing assets across the UK are worth three-and-a-half times the value of housing debt and assets have increased by more than debt levels in each of the past 10 years."




SEE ALSO:
Private housing stock value rise
04 Feb 05 |  Scotland
UK housing market remains robust
08 Mar 04 |  Business
Most towns too dear to start out
06 Mar 04 |  Scotland
New rise in Scottish house prices
18 Feb 04 |  Scotland


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