Median price at August 2008: £187,594

General increase since Sept 2007: 7 %

Projected increase to Sept 2009: 0-2%

Five-year increase: 84% (£66,527)

Ten-year increase: 182% (£101,898)

The complete Perthshire price guide

Described as the ultimate house with grounds county, Perthshire has also been called “the Surrey of Scotland”, such is its lure for wealthy executives. CKD Galbraith’s William Jackson says that the obvious shortage of premium properties in every sector of the market has continued to ameliorate otherwise difficult conditions for agents.

Jackson’s marketing of the sporting estate of Findynate for over £4m was the most noteworthy sale of the year — not least because, as a holiday home of former Northern Rock chairman Matt Ridley, it was concluded for an estimated £7m at the peak of the building society’s troubles.

Findynate is typical of the premium prices attached to the eight Strathtay estates that are Perthshire’s jewels in the crown. Their best-known owner, JK Rowling, “The Laird of Killiechassie”, purchased her strip of premium Perthshire from Jackson for about £600,000 in 2001 — a bargain by today’s standards.

Nonetheless, this is the third downturn Jackson has worked through and he has no doubt it is the worst. “The volume of transactions has decreased massively and that may be skewing the figures. It is hard to gauge if people are really looking to buy and are just biding their time or if demand has actually cooled.”

More than ever before, properties need to be well presented to achieve expectations. Homes that appeal to international markets such as estates continue to do well — and will continue to do so as long as overseas buyers perceive Perthshire as representing good value for money.

Jackson confirms that all sectors are struggling where mortgage finance is required. "Newbuild homes must now have a price that can be attractive to bargain hunters. Traditional and established homes are the safest option — with manses in particular looking downturn-proof.”

There is no great sense yet of a mass migration from London to Scotland as City bonuses dry up and finance sector expats cash in to come home but William Jackson confirms that things could definitely be significantly worse in a market that has seen average prices grow by 182% in ten years. “This is a good market for good agents,” he says.

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