PARTNERS at Scotland's leading property agents Ryden enjoyed a 50 per cent boost to earnings last year as Aberdeen boomed, but the firm admits development activity is now being subdued by the oil price crash and by political uncertainty.

The independent Edinburgh-based firm, which has a near 30 per cent share of both industrial and office market deals done in ­Scotland, saw the profit available for its 31 members jump from £4m to £6m in the year to April 30, and says the average pay-out per member soared from £130,888 to £204,361.

Turnover rose from £11.3m to £13.2m, and year-end funds jumped from £2.2m to £3.9m, according to the latest annual accounts.

Bill Duguid, the Aberdeen-based managing partner, said of his local market: "We were running at 150 miles an hour then, we have probably now slowed to a more normal 60 or 70, but we are not at 20 miles an hour.

"Those conditions we had were exceptional ... frankly Aberdeen activity levels are going to go off a bit in the next year or so, all of that happened when we were sitting at $115 a barrel."

On the oil price, he commented: "I have been here since the late 1970s and I've seen three or four situations like this, in general the price rights itself fairly quickly, but one of the factor this time which has never been in play before is the shale gas factor - it will be interesting to see how that plays out."

He added that there had been "most definitely an effect" from the referendum, with investment decisions put on hold around Scotland. "I am not sure we have really seen a bounce," he added.

"I suspect those people who were waiting to see are still waiting to see the powers to be devolved are really going to be."

Mr Duguid said the oil effect "helped to us to achieve super-performance, but it shouldn't mask a very good performance in some other parts of the business".

Fee revenues were up 32 per cent in Aberdeen, 21 per cent in Inverness, 20 per cent in Edinburgh and 5 per cent in Glasgow, with investment fees jumping 76 per cent and agency revenues 23 per cent.

Transaction fees, reflecting activity in the economy, were up eight per cent, compared with a four per cent drop in 2011-12, and had recovered to 50 per cent of the total, Mr Duguid said.

"At the peak before the crash we were two-thirds transactional, that almost turned completely the other way after the recession."

Ryden employed 110 people last year, up from 108 the previous year, and plans are under way to move its headquarters next year away from Edinburgh's Castle Street, where the company was founded back in 1959.

Mr Duguid said: "We need to modernise and we are looking at options right now. Hopefully we will be seen as a good tenant to have."

He added: "We are pretty much on budget for the first two quarters of this year which is a bit of a surprise ... in business terms we are ahead of where we were at the same stage last year."

The accounts show a rise from £272,129 to £316,858 for the highest earner, assumed to be Mr Duguid, who has headed the Aberdeen office since 1997 and succeeded Fiona Morton as managing partner last year.