Least expensive house prices among seaside towns in Scotland

A number of seaside towns have recorded substantial house price increases over the past decade, according to a new study, but Girvan was rated as the most inexpensive.

The rises were most notable on the east coast, with five areas in Aberdeen or Aberdeenshire witnessing at least a doubling in house prices since 2004.

Overall, nine of the 10 most expensive seaside towns are on the east side of the country, with North Berwick in East Lothian topping the table as Scotland’s most pricey coastal town.

The latest research, carried out by Bank of Scotland, analysed average house prices last year and how they compared to the levels recorded in 2004.

In total, the average house price in Scotland’s seaside towns rose by 45% between 2004 and 2012, exceeding the 36% increase for the whole of the country. This was due in part to “substantial” rises in the top-performing coastal towns, the survey found.

When individual towns were analysed, Fraserburgh in Aberdeenshire experienced the biggest rise, with a 139% increase from an average price of £53,641 in 2004 to £128,418 in 2012.

Peterhead and Macduff saw the next biggest gains, at 116% and 115% respectively, followed by Cove Bay at 108% and Inverbervie, which recorded a doubling of prices over the same timescale.

Montrose in Angus, Campbeltown in Argyll, Prestonpans in East Lothian, Burntisland in Fife and Stonehaven in Aberdeenshire, completed the top-10 list of seaside towns with the biggest house price increases since 2004. All recorded rises of 87% or more.

A further 15 coastal towns, out of a total of 60 surveyed, recorded price increases of at least 50% since 2004.

When the country’s most expensive coastal properties were analysed, the survey recorded something of an east-west divide.

Eight of the 10 least expensive seaside towns are in western Scotland and all have an average price below £100,000.

Girvan in South Ayrshire was the most inexpensive town, with an average house price of £75,325. North Ayrshire towns Irvine, Saltcoats and Ardrossan were also among the least expensive seaside places as far as house prices are concerned.

Wick and Thurso in the Highlands, Stranraer in Dumfries and Galloway, Port Bannatyne on the Isle of Bute, Millport in Cumbrae and Greenock in Inverclyde completed the list of coastal places where average house prices remain in five figures. Girvan was also the most affordable seaside town in Scotland.