SCOTTISH properties are holding their value better than homes in the rest of the UK.

Figures released by the Halifax and Bank of Scotland show the average house price in Scotland fell by 18% over the last four years, while the UK overall saw a drop of 24%.

Older properties dating back to before 1919 performed the best, with Scotland seeing a 12% drop since 2007 – compared to 30% in the rest of the UK.

Despite the recent falls, properties north of the Border have surged in price over the last 25 years, rising by an average of 359%, from £30,545 to £140,250.

Tony Perriam, of estate agents Rettie, claimed that, in his experience, the Scottish property market continued to be robust.

He said: "We are definitely heartened by the news that the weakening of prices in Scotland has been less dramatic than the UK as a whole, and that certainly sits with what we are seeing.

"Property in Scotland is robust and has never seen the same fluctuations as England.

"Our estimate was that prices had dropped by around 15%, so that is not that far off the 18% reported here, and prime areas such as Edinburgh have seen an even smaller decrease – we estimate around 10%."

Faisal Choudhry, head of research for agents Savills, added that the affordability of houses in Scotland was helping the market.

He said: "Affordability is one of the main things contributing to a robust Scottish market. You can get a lot more for your buck here than you can in London, for example."

The figures also showed that older property had seen the biggest surge in price over the last 25 years.

In Scotland, the average price of period homes increased by 528%, from £26,264 to £165,002, making it the best-performing property in the UK for value retention.

Nitesh Patel, Bank of Scotland housing economist, agreed that pre-1919 properties were faring the best.

He said: "The Scottish housing market has held up relatively better than the rest of the UK over the last few years and this, teamed with the desirability of pre-1919 properties, can explain why they're doing better. They also tend to be in shorter supply than other types of property and so can attract higher prices."

Mr Patel added: "The age of a property often determines its size, its style and location.

"Properties from the Victorian or Edwardian era that are so prevalent in the major cities such as Edinburgh, Glasgow and Aberdeen tend to be in higher demand: there are fewer of them; they are often larger, situated in desirable locations, and have a popular style.

"People like the Victorian and Edwardian features and they tend to have larger rooms, so it's easy to see why pre-1919 homes have witnessed such a dramatic increase over the past 25 years."

Mr Perriam, of Rettie, added: "Period properties, particularly those that are well maintained or have been renovated, are by far and away the most popular property type, even in a weakened market.

"We recently had a stone-built, end-terrace property in Edinburgh dating back to 1890 which attracted four offers within weeks of the closing date in a very poor market.

"In the current market people are buying property, not primarily as an investment, but as a home. And older properties offer more space and make for very attractive places to live."