The average price of a prime property in Scotland rose by 0.3% in the fourth quarter of 2013, the second consecutive quarter of price growth, according to the latest Prime Scottish Property Index from Knight Frank.
The Index shows that the best residential properties in Scotland have appreciated by 1.6% year-on-year, with Prices for homes worth less than £1m performing better with an increase of 1.8%. However, despite the recent rise, overall values remain 24% below the market peak recorded six years ago.
Scottish property prices vary from region to region, with values remaining unchanged during the fourth quarter in six out of the seven main Scottish regions, with a 1.3% increase in the Central region the biggest rise.
The analysis of market activity in Q4 2014 reveals that the housing market is improving, with the volume of sales agreed during the quarter 10% higher than the corresponding period in 2012.
The number of individuals registering their interest in purchasing a prime property in Scotland was up by over 50% over the same period, as were the number of viewings conducted.
Ran Morgan, head of Knight Frank's Scottish residential department, said: "As evidenced by rising prices and an increase in transactions, the second half of 2013 has marked the start of a turnaround in fortunes for the prime Scottish country house market.
"It is encouraging to see that this recovery is taking place in rural as well as urban areas. Rising prices across almost all the regions is reflective of the more positive mood we have seen among both buyers and vendors."