Scottish countryside

Scottish countryside homes 11% more expensive than in urban areas



Properties in the Scottish countryside are, on average, £19,017 (11%) more expensive than in urban areas, according to a new study.


However, research by the Bank of Scotland has revealed that the premium attached to countryside property in Scotland has fallen from 21% (£27,354) in 2012 to 11% (£19,017) in 2017.

Between 2012 and 2017, the average price of Scottish countryside housing rose by 17%, while urban areas experienced an average increase of 27%.

First-time buyers accounted for 44% of all mortgage financed purchases in Scottish rural areas, but over half (51%) of purchases in urban areas.

Graham Blair, mortgages director at Bank of Scotland, said: "The countryside continues to attract homeowners looking for open spaces, cleaner environment and the prospect of a greater quality of life. 

“However, this comes at a premium with rural property prices on average 11% higher than in urban areas.

“Affordability is often a key driver in any decision to purchase a home, with some rural regions more affordable than certain urban locations, so there’s always an option for anyone considering an escape to the country.”

The countryside premium in Great Britain (excluding London) was even more significant at over £44,000 (20%).

The greatest rural premium was found in the West Midlands (47%), followed by the North West (33%).



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