Fri, 20 Apr 07
The analysis by the Bank of Scotland said the cost had increased by 173% to £2,218 per square metre, reports the BBC.
Prices had also risen by 133% in
Dundee,
Martin Ellis, chief economist at Bank of Scotland, said: "
Meanwhile, research by housing charity Shelter said it had become 65% harder for first time buyers to get onto the property ladder in
Housing tightrope
Its ROOF magazine assessed housing affordability by comparing mortgage costs against household's incomes.
Shelter
"For first time buyers, the housing ladder is becoming a housing tightrope.
"Buying a home is becoming an ever-more distant dream for first time buyers and as housing becomes increasingly unaffordable, we fear that repossessions are likely to spiral and more families will face the nightmare of homelessness."
A Shelter campaign has called for 30,000 new rentable homes to be built in
People are urged to show their support for the "It's time to get a move in" initiative by displaying a charity sticker on their front door.
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