Tags
chimney cowls

The cost of owning and running a property in Scotland has reached its highest level in ten years, research has found.

The average amount of money spent on house costs stood at £8,523 in January 2012, marking a jump of 50 per cent since records began in 2002, according to a study by the Bank of Scotland.

Nitesh Patel, housing economist at Bank of Scotland, said: "The typical costs of owning and running a home in Scotland have increased over the past year, even though interest rates remain at a historic low."

Mr Patel added that the potential for declining consumer price inflation in 2012 may help to ease the costs associated with running a home.

His comments follow news of an energy tool that has been introduced in Nottingham in a bid to help residents save money on their bills.

Called the Nottingham Energy Calculator, the technology allows people to identify how installing insulation and double glazing alongside their flue accessories can lower their expenditure.