PEEBLES High Street is holding its own despite the current economic uncertainty.

In figures released this week by the Local Data Company, the High Street scored 4.4% - the second lowest shop vacancy rate in Scotland.

It was only bettered in Scotland by the Argyll seaside town Dunoon which scored 2.5%.

Paisley meanwhile scored lowest with 26.7% while the capital city Edinburgh scored 11.1%.

This is compared to the UK average of 14.3%.

The Local Data Company visited over 2,700 towns and cities, retail parks and shopping centres between January and December 2011. Each premise was visited and its occupancy status recorded as occupied, vacant or demolished.

The total number of shop premises surveyed was in excess of 196,000.

Peebles Community Council chair David Pye said: "This is terrific news for the town. It's a great shot in the arm to know that we're doing better than anywhere else in Scotland other than Dunoon but obviously we still cannot afford to be complacent.

"There is a diverse range of shops on the High Street which makes the town an attractive place to both shop and do business. However we should not think that we can rest on our laurels instead we should build upon such good foundations.

"When you drive through other towns you do immediately realise the high number of vacant shops."

Local Councillor Graham Garvie also welcomed the news.

He said: "This is great news although we've always known that Peebles has a very strong independent retail environment."

Speaking of the figures, Matthew Hopkinson, director at the Local Data Company, warned that town centres much adapt to thrive.

He said: "The reality is that the odds are stacked against a positive take up of shops and as such the new reality of 48,000 empty shops is here to stay unless an alternative use or purpose can be found.

"Technology is driving consumer behaviour to a world of engagement, entertainment and the ability to shop where, how and when we like. Town centres need to adapt to this changing environment if they are to survive and thrive."

Liz Peace, Chief Executive of the British Property Federation, said: "Today's figures show that while some high streets are thriving, others remain locked in a spiral of decline. To turn these areas around will be difficult and will need landlords, retailers and local authorities to work closely together to adapt to changes in the way we shop.

"There are a number of proposals on the table for tackling declining town centres and we believe it is vital to stop talking and get on with implementing them as quickly as possible. Bringing empty shops back into use by allowing conversion to residential is one that could be implemented quickly and easily."