House prices have risen by 11.1 percent over the last year across the UK, according to Nationwide Building society. This is the strongest annual growth seen since June 2007.
Nationwide's figures show that the average UK property price reached £186, 512 in May - which is the highest price rise since October 2007 when house prices reached an average of £186,044.
A spokesperson for the report said "Low mortgage rates and growing buyer confidence on the back of improving labour market conditions and the brighter economic outlook are probably playing a much greater role in stimulating buyer demand.'
Speaking about the Scottish market in The Scotsman Newspaper this week, Alan Ferguson of the Charetered Institute of Housing in Scotland said:
"Edinburgh, the Lothians and Aberdeen have high property prices in much the same way as London and the south east. But Help to Buy schemes are getting first time buyers onto the first rung of the property market. Our members are reporting that housing associations are also providing rented accommodation at market rents for a niche of people who can't afford to buy but cannot get council housing."
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