Rural Scotland 'sees substantial house price increase'

Posted: 04 Oct 2011 12:31:42 GMT

The price of property north of the border has doubled in the last ten years.

Rural Scotland has witnessed significant house price hikes over the last decade, it has been shown.

According to the latest annual Bank of Scotland Rural Housing Review, the average cost of such properties has doubled across this time.

It was demonstrated that a typical countryside abode has leapt by £79,819 in the ten-year period, which is the equivalent of £665 every month.

Having stood at £79,104 in 2001, the average value of a rural dwelling north of the border climbed to £158,923 in 2011.

Nitesh Patel, housing economist at Bank of Scotland - which is regulated by the Financial Services Authority - said: "Living in the countryside is an aspiration for many homeowners, attracted by the prospect of a better quality of life, open space and a cleaner environment."

However, the industry figure pointed out the doubling of property prices in these areas over the past ten years could act as a stumbling block for such relocations.
 

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