Aberdeen and Inverness top UK city house price list

for sale board The survey suggested four of the five cities that had the highest house price growth were in Scotland

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House prices have risen faster in Aberdeen and Inverness than any other UK cities over the past decade, a survey has suggested.

The Bank of Scotland report said average prices rose by 94% in the Granite City between 2002 and 2012.

Inverness saw prices climb by 81%, with Dundee (+73%) and Perth (+70%) also featuring in the top five UK cities.

The bank said Aberdeen had particularly sharp increases because of the importance of the oil sector.

According to the survey, cities recorded higher house price growth than the UK average over the past 10 years.

Prices in cities increased by an average of 38%, from £125,276 in 2002 to £173,322 in 2012. This compared to a 29% rise for the UK as a whole.

Northern Irish cities Lisburn and Belfast had the smallest price rises over the last 10 years, up by just 2% and 3% respectively.

The bank said this largely reflected a substantial decline in house prices across Northern Ireland since 2007.

Ely and Southampton recorded the smallest increases in England, while Stirling (+35%) and Glasgow (+45%) experienced the lowest house price growth among cities in Scotland.

Cities with highest house price growth 2002-2012

Source: Bank of Scotland

Average House Price 2002

Average house price 2012

10-year change (%)

Aberdeen

£92,759

£179,607

94%

Inverness

£86,669

£156,832

81%

Bradford

£60,002

£106,015

77%

Dundee

£69,615

£120,086

73%

Perth

£95,488

£162,259

70%

Hull

£60,515

£101,914

68%

Carlisle

£72,895

£120,557

65%

Durham

£80,802

£133,463

65%

Swansea

£76,110

£120,483

58%

Stoke on Trent

£74,305

£117,131

58%

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