Scotland: Seaside Homes Price Review
Many have dreamed of seaside living but where in the United Kingdom can you find your desired coastal home? A recent analysis by Propertywire shows that Scotland has the best price values for seaside living.
It is now reported that the cost of living in Scottish seaside towns is £24,396 less than any other location in the UK.
In its report Propertywire states that research from the Bank of Scotland shows a divide between the East coast and West coast on prices with nine out of 10 of the most expensive homes being in the East coast.
The average home in Scotland is now £172,833 an increase of 12% over the past five years whilst property values for seaside property in Scotland has increased by 6% to £7,980 well below the national average.
For the rest of the UK house prices for seaside property have increased by £42,153 or 22% over the past five years.
The most popular destination coastal location is North Berwick being the most expensive seaside town two years in a row with average home prices at £342,346.
The second most expensive is St. Andrews with the average property valued at £312,063. After St.Andrews the next are Newtonhill at £233,855, Stonehaven at £226,687 and Dunbar with house values at £211,392.
St Andrews is the second most expensive seaside town with an average price of £312,063, followed by Newtonhill at £233,855, Stonehaven at £226,687 and Dunbar at £211,392.
The western coastline has nine out of 10 of the least expensive Scottish coastal towns with the least expensive being Millport with an average price value of £81,233. Other least expensive coastal locations are Girvan at £91,459 and Saltcoats at £92,891.
Of the top 10 least expensive towns six have average prices at or below £100,000 with all ten locations being below £100,000 a year ago.
Other seaside towns including Argyll and Bute have had the biggest increases with prices in Port Ballantyne rising by £29,544, Campbeltown saw an increase of £24,652 and Rothesay having increased by £23,700.
Graham Blair, mortgage director at Bank of Scotland:
‘Scotland, with its beautiful coastline, represents fantastic value for money for anyone looking to purchase a seaside property. These locations offer a unique lifestyle with a typically high quality of life and a healthy environment.’
‘Home buyers working in Scotland’s major towns and cities no doubt weigh up commute time and the discount they can receive by moving to the seaside.’