With experts predicting that house prices in Moray are set to soar new figures published this week by the Registers of Scotland (RoS) has shown that bricks and mortar has always remained the best investment through troubled times.
The RoS report on house prices over the last ten years in Scotland shows that in the north Moray has performed well with only Aberdeen City and Shire and the booming Shetland economy fairing better.
A home purchased in Moray in 2004 for the then average price of £92,230 can be sold today for around £143,027 – an investment increase of 55.1%, well above the national average increase at 33%.
Much of the increase in house values has been in the last year, when a major recovery in the homes market has been noticed that saw residential home sales rise by 22% – the highest since the market downturn in 2008.
RoS director of commercial services, Kenny Crawford, said: “It has been an interesting decade for the Scottish property market, which is now showing real signs of recovery since the economic downturn in 2008.”
Scotland’s enterprise minister Fergus Ewing says the report reflects the strength of the Scottish economy.
He said: “These figures are extremely encouraging especially when viewed alongside the wider indicators of strength in the Scottish economy, where Scotland is outperforming the UK on employment, unemployment and economic activity.”