Prospective buyers moving to Scotland as UK average property price ‘up £20k in a year’

Scottish cities could see an influx of prospective property buyers seeking to escape further price hikes according to property company Rightmove.

Picture: PA

Rightmove reports that sellers asking prices in England and Wales have ended the year nearly £20,000 higher than when 2015 started and predicts that in a year’s time average asking prices will be another £17,000 higher, as the “stark imbalance” between housing supply and demand continues to push property values to record highs.

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Rightmove’s figures show UK sellers are now demanding £289,452 on average. This is £19,975 higher than the typical asking price in December 2014 of £269,477.

The increase predicted by Rightmove would push the UK average property price well over the £300,000 mark by the end of 2016. Rightmove said young professionals may give up on London and instead head for vibrant cities such as Manchester, Leeds and Edinburgh.