The research found that house prices in Scotland have increased by a staggering 122% over the last decade.
The North of England, Wales, Yorkshire and London also beat the 72% average increase in UK house prices during the period.
Northern Ireland was the biggest loser with prices having fallen by 32% over the last 10 years.
Christopher Down, chief executive of Hearthstone Investments, said: “The British have a long standing love affair with property but the strength of the market can hide problems in the detail.
“Traditional investment in residential property requires significant commitment in terms of finances and time and in many cases is limited to a particular region.
“Even investors with a large Buy to Let portfolio are often heavily invested and exposed to one specific region.
“Our review of the regional fluctuations over the last ten years illustrates that investors are potentially exposed to regional risks if assets are concentrated in only one area.
“Property prices are recovering from the credit crisis of 2008 but some regions have been affected more.”
