Scottish prime rural market booms

The Scottish prime country house market has seen its biggest annual boom in 18 years over the last 12 months, new research has found.

In news that will have boosted the Scottish prime mortgage market, properties in this market rose by 19 per cent in value between September 2006 and September 2007, a study by property specialists Knight Frank established reports hotproperty.co.uk.

Jamie McNab of property agents Savills said: "Top-end houses have doubled from £2.5 million in 2005 to £5 million this year."

The Scottish mortgage market has seen prices outperforming the UK as a whole this year.

Earlier this month the Bank of Scotland house price index showed that Scottish houses had seen prices rise by 14 per cent this year, compared with ten per cent for the UK as a whole.

Despite this, Scottish homes remain more affordable than elsewhere, with only Aberdeen, Inverurie and Edinburgh having average house prices over £200,000, the BBC reported.

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