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Pre-first world war homes enjoy biggest price increase

Houses built in Scotland before 1919 have seen the largest surge in prices over the past 25 years, according to new research from Bank of Scotland. Properties built before the end of the First World War have risen by an average of 528% – equivalent to £462 per month – from £26,264 in 1986 to £165,002 in 2011. This is significantly more than the average house price increase for all properties of 359% (£366 per month).

The average price in Scotland of pre-1919 properties has outperformed the UK as a whole, which saw an increase of 461% since 1986.

The more modern properties built since 1960 have seen the next largest rise in house prices, increasing over the last twenty five years by 336% to £141,104. At the other end of the scale, properties built between the end of the Second World War and 1960 – a period which saw the advent of both the high rise and more European style open plan homes – have seen the smallest increase in prices with an average rise of 201% over the period.

Properties of all age groups have seen an average house price decline of 18% since 2007; older properties built before 1919 and those built since 1960 have seen the smallest declines (12% and 14% respectively).

Houses built before 1919 are on average the most expensive with an average price of £165,002. The least expensive are those built over the period 1946 to 1960 with an average price of £100,705 – 28% below the average price for all properties (£140,250).