Aberdeen suburb tops wealth list

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Aberdeen is home to Scotland’s wealthiest suburb, new research suggests.

A new study found that four in every ten households in Milltimber earns more than £100,000 a year – higher than any other area of the country.

The statistics were compiled by estate agents Savills, whose researchers looked at data from credit report firm Experian and figures from the Office for National Statistics.

They also found the average house that goes up for sale in Milltimber goes on the market for £508,000.

A Savills spokesman said: “In Scotland, an Edinburgh district might have been expected to top the postcode ranking but uppermost is Milltimber, where 40% of households exceed the £100,000 income threshold.

“Victorian villas line the generous streets of this suburb, six miles outside Aberdeen, whose prosperity – and high average house prices of £508,000 – is founded on oil wealth.”

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Savill’s research director Lucian Cook said high earners tend to live in the same area.

He said: “As they have climbed the career ladder so their spending power has risen, fuelling higher long-term rates of house price growth in those areas than elsewhere.”