Scotland business

North Berwick 'most expensive seaside town for property'

North Berwick Image copyright VisitScotland
Image caption The review found that the average price of a house in North Berwick is now more than £327,000

North Berwick has become Scotland's most expensive seaside town for properties, according to a report.

The Bank of Scotland said the average price of a home in the East Lothian town rose by 11% last year to £327,124.

St Andrews in Fife was found to be the second most expensive, with an average price tag of £302,536.

The study also suggested house prices in Scottish coastal towns have grown faster than British seaside towns as a whole over the past 10 years.

The Seaside Towns Review, which is based on house price data from Registers of Scotland, found the average price north of the border grew by 39% between 2005 and 2015 to more than £150,200.

That compared with a 32% increase for all seaside towns in Britain.

Most expensive Scottish seaside towns in 2015 (average price):

  • North Berwick, East Lothian - £327,124
  • St Andrews, Fife - £302,536
  • Newtonhill, Aberdeenshire - £245,507
  • Stonehaven, Aberdeenshire - £236,057
  • Inverbervie, Aberdeenshire - £213,468

Least expensive Scottish seaside towns in 2015 (average price):

  • Port Bannatyne, Isle of Bute - £77,132
  • Girvan, South Ayrshire - £91,912
  • Campbeltown, Argyll - £91,938
  • Saltcoats, North Ayrshire - £93,479
  • Stranraer, Dumfries and Galloway - £96,476

Source: Registers of Scotland

Seven of the top ten coastal towns with the biggest house price increases between 2005 and 2015 are located in Aberdeenshire.

Fraserburgh saw the highest growth, rising by 139% over the 10-year period to £151,719.

Lerwick in Shetland saw the second biggest growth, rising by 106% to £159, 325.

Other towns outside Aberdeenshire with the largest price increases included Millport (84%) and Campbeltown (69%).

Image copyright Anne Burgess
Image caption Average house prices shot up by nearly 140% in Fraserburgh over the 10 years to 2015, according to the review

A further 22 coastal towns - out of the 59 surveyed - recorded price increases of at least 50% over the 10-year period.

Over the last year, Lossiemouth saw the largest house price increase, going from £118,330 in 2014 to £139,297.

The top five most expensive properties are located on the eastern coastline - North Berwick, St Andrews, Newtonhill, Stonehaven and Inverbervie.

Eight out of ten of the cheapest seaside towns are in western Scotland. Port Bannatyne is the most inexpensive, with an average price of just £77,132.

Nicola Noble, mortgage director at Bank of Scotland, said, "Living on the coast offers many attractions, including a typically high quality of life and attractive surroundings.

"As a result, property in seaside towns is often very popular with homebuyers.

"Whilst property in seaside towns can be more expensive than elsewhere, exceptional value for money can still be found for those searching to realise their dream of living near the sea."

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