According to the Bank of Scotland index, house prices in Scotland since the start of 2005, have risen faster than anywhere else in the UK. Consequently the average Scottish house price is now over £100,000 for the first time.

Research shows that house prices have increased by more than 6% between January and March. Over the past year, prices have gone up by almost 23%.

The largest rise to the cost of a house was in Bellshill, where prices rose by 46%. Second was Irvine (45%), followed by Coatbridge (42%) and Motherwell (38%).

Group Economist for the Bank of Scotland Tim Crawford commented: "Scotland has been one of the best house price performers in the UK and the pace of Scottish house price growth is stronger than a year ago. However, over the rest of 2005 we do anticipate a slowdown in the pace of house price growth as affordability constraints see demand ease."

A 75-hectare (185 acre) area of Central Salford is to undergo regeneration, expected to cost in the region of £500m.

The regeneration of Lower Broughton will be one of the largest regeneration projects in the UK and is expected to create a sustainable new community of over 3,500 mixed-tenure homes and a full range of community facilities and services including shops, leisure, employment, education and training.

A development agreement has been made between Countryside Properties and Salford City Council.

Leader of Salford City Council, Cllr John Merry says: "This is an important milestone which enables us to take the project forward and build on the positive work already undertaken. Together with Countryside Properties we are committed to ensuring Lower Broughton encompasses best practice in urban renewal and community-building."

Overseas investment into UK commercial property soared 152% to £15.9bn in 2004, with US investors proving most active through purchases totalling £7.2bn, according to international property adviser DTZ.

DTZ's report states that the impressive rise in overall overseas buying volumes has primarily been due to the increased level of corporate and investment portfolio transactions undertaken during 2004.

Richard Turner, DTZ director of investment in Newcastle, said: "Cross-border investment activity reached unprecedented levels in 2004. While we would be surprised to witness similarly high levels of activity in 2005, the increasingly global focus of property investment vehicles and continued out-performance of property versus other asset classes will ensure that overseas investors continue to be a major player in the UK market place."

The top 10 towns, which experienced the fastest rising house prices in the past year, were all located outside southern England according the latest research from the Halifax.

In Scotland: Bellshill in Strathclyde, saw a dramatic 46% increase in property prices over the past year taking the cost of an average home from £72,508 in the fourth quarter of 2004, to £105,698 in the first three months of 2005. While property prices in Irvine rose by an average of 45%, Coatbridge (42%), and Motherwell (38%).

In Wales, property prices rose in Ebbw Vale by 42%, Blackwood (41%), Port Talbot (40%).

The average price of a home nationally is £162,840 compared with £241,918 in Greater London where prices are highest, and £105,397 in Scotland, the lowest priced area.

'It has been areas in Scotland, Wales, Northern Ireland and northern England that have recorded the most buoyant housing market conditions over the past year,' said Martin Ellis, Halifax's chief economist. 'As a result, the north/south divide has narrowed to its smallest for seven years.'

Buy-to-let remains a long term investment strategy for investor-landlords, according to the Association of Residential Letting Agents' latest Review and Index.

A staggering 88% of investor-landlords intend to hold their properties for an average of 16 years, while 90% say they will not sell even if house prices fall.

Over 300 investor landlords and 500 letting agents participated in the quarterly survey.

Investors in Buy-to-let are split fairly evenly between those who became residential landlords aiming to achieve both rental income and capital appreciation (44%) and those who invested to create a nest egg for the future (47%). Just 6% of all residential landlords say they invest to gain an income stream and only 2.6% are looking for a short-term capital gain.

"These figures, showing the reasons why people invest in buy-to-let demonstrate the falsity of reports that claim investing in rental property is a bubble that is about to burst," commented Adrian Turner, Chief Executive of the Association of Residential Letting Agents.