Aberdeen (aka The Granite City) has experienced the fastest rise in house prices during 2006 when the rise was 27pct to an average GBP172,000 ($327,000). Aberdeen was also the only Scottish entry in top 20 best performing locations in the U.K.
Behind Aberdeen ranked Kilmarnock and Motherwell with 25pct rises. Edinburgh is the most expensive location in Scotland with an average price of £203,000, up 12pct.
Aberdeen’s real estate has benefited form a strong local economy, especially the energy sector.
The average home in Scotland now costs nearly 4 times the average household income.
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Official 2005 statistics reveal that that food and drink is the most important export category with whisky accounting for about 86pct of that sector thus emphasising the importance of the ‘water of life’ to Scotland’s economy.
Out of the total GBP18.6M ($ 36bn) of exports, food and drink accounted for GBP3.6BN with otther sectors contibuting as follows: Chemicals GBP1.8bn; Office Machinery GBP1.7bn; Business services GBP1.6bn; and media equipment GBP1.3bn.
Exports in 2005 were up GBP900M on 2004. The U.S.A. was the most important single country destination accounting for GBP2.1bn ($4.0bn) of the total.
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U.K.Government statistics for 2004/5 show that the U.K.Central Government spends GBP1236 ($2400) more on every person in Scotland than is does in England. Scotland also receives GBP1034 ($2050) a head more ( 16pct.) than the U.K.average. The gap between Scotland and England has narrowed by GBP164 ($320) per head from previous year. Total Government revenue in Scotland was GBP36.4bn against spending of GBP47.7bn. The Scottish National Party dispute the figures.
Over the past year the number of private sector enterprises in Scotland rose by 0.1oct to 265,435 and the number of people employed in the businesses rose by 1.4pct to 1.9m. The Scottish National Party has criticised this low level of enterprise growth.
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