Homes in rural Scotland have more than doubled in value over the past ten years, according to the latest research.
The Bank of Scotland has reported that the average rural house price went up from £71,872 in 2000 to £165,453 between 2000 and 2010.
This is an increase of 130 per cent in total, outstripping the rise in value of urban properties over the same period (112 per cent).
In total, the average rural house price is 20 per cent more than the typical urban property, in comparison to only ten per cent at the start of the decade.
The drop in value over the recession was almost half that of their urban counterparts, coming in at eight per cent between 2007 and 2009.
This is compared to urban properties, which plummeted 14 per cent in value.
Commenting on the findings, Bank of Scotland economist Suren Thiru said: "With the lifestyle benefits associated with residing in the countryside still resonating with home buyers, rural properties continue to trade at a significant premium to homes in urban areas."
See Also: Property News (8660)
Date Published: 29 November 2010
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