Sharon McDougall - 28th September 2016 - 2 minutes to read
Many thousands of Scots could be saving themselves considerable sums of money by swapping city centres for commuter towns.
In fact, according to a new study by the Bank of Scotland, there are many thousands of pounds to be saved by living in places such as Motherwell, Greenock and Arbroath, rather than Edinburgh, Glasgow and Aberdeen.
The bank’s study looks at the average costs of properties that lie within around 30 minutes of Scotland’s three largest cities as compared with the average prices of houses in their respective city centres.
The findings make for interesting reading and potentially food for thought for anyone currently struggling for money while living in a major city centre.
Edinburgh apparently has the highest average house price of any city in Scotland at £225,000 but nearby commuter towns such as North Berwick, Livingston and Bathgate all have average house prices of around £155,000.
Meanwhile, Motherwell stands out as perhaps the most affordable town from which to commute to the Scottish capital, with its average house price level currently standing at £130,000.
In Glasgow, the average house price is much lower than in Edinburgh and stands at £162,000 but there are still significant sums to be saved by living in a nearby commuter town rather than in the centre of the city.
According to the Bank of Scotland, Greenock is Glasgow’s most affordable commuter town, offering as it does the appeal of an average house price level as low as £121,000.
In Aberdeen, the average house price currently stands at just over £210,000, with its most affordable nearby commuter town being Arbroath, where the typical property price stands at a little over £127,000.
“Scotland has some great commuter towns where considerable savings on property can be made,” noted Graham Blair, a mortgage director with the Bank of Scotland.
Although, Mr Blair did also point out that there are often a range of different factors besides price that play a part in any homebuyer’s decision making process.
If you live anywhere in Scotland and you’re finding it difficult to cope with the pressure on your personal finances then Scotland Debt Solutions can help. You can contact any of our offices directly to arrange a free and confidential consultation.
Levels of unsecured debt in Scotland increased dramatically during 2022 as the cost of living crisis took its toll on household finances.
Close to half a million Scots are in a position of profound financial hardship, according to a new set of figures.
Disabled people in Scotland are being urged by the government to check whether they might be eligible for benefits that could help make their life a little easier.
Why Choose Us
5 Offices in Scotland
Ask us About
Helping Scots Get
Out of Debt Since 1989
We offer an
Instant Initial Consultation
We'll Help You
Lower Monthly Payments
HELPING SCOTS GET
Out of Debt Since 1989
We'll give you a call
Our Scottish based team can help advise you on your debt problems.
Our personalised debt report will help you better understand your financial position and see where your money is going.
Arrange a call with an expert advisor at a time to suit you or contact our team via WhatsApp for immediate help and advice.
Our Insolvency Practitioners are regulated by ICAS or the IPA and our firm is authorised and regulated by the Financial Conduct Authority
Fees and Information: There are fees associated with our services. These will be fully explained before entering into any of the personal debt solutions referred to on this website. Full details of our fees and how these are charged are fully explained to you prior to you committing to any particular service.