Higher value mortgages may be required by people looking to purchase property in Scotland as it has been revealed the country is home to some of the areas with the most significant house price rises over the last ten years.
According to research carried out by Bank of Scotland, four of the ten UK cities to have seen the largest increases in the past decade are located north of the border.
Indeed, Inverness has witnessed the most sizeable growth, with property prices swelling by 148 per cent in this period.
In addition, there has been a 116 per cent jump in such costs across Aberdeen, while Dundee has seen a 106 per cent hike and Edinburgh costs have leapt by 93 per cent.
Suren Thiru, housing expert at Bank of Scotland – which is authorised by the Financial Services Authority – noted there is often a more acute difference between housing demand and supply in major urban conurbations, adding: “Homes in cities across the country are typically trading at a marked premium over neighbouring areas.”
