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Average house price in St Andrews approaches £300,000 as it is named Scotland’s most expensive seaside town

A sunny day at the East Sands at St Andrews.
A sunny day at the East Sands at St Andrews.

St Andrews is Scotland’s most expensive seaside town, with an average house price of £294,586.

The town sits marginally ahead of North Berwick, where houses sell for an average of £294,076.

Research by the Bank of Scotland has found the housing market is experiencing something of a boom in Scottish coastal towns, with Dalgety Bay seeing price rises of 16% in the last year alone.

Three towns have seen house prices more than double in a decade, the research has found.

Fraserburgh in Aberdeenshire experienced the biggest rise with a 109% jump from an average price of £63,540 in 2005 to £132,920 last year.

Lerwick in Shetland, and Peterhead, also in Aberdeenshire, recorded increases of 102%.

Lerwick’s average prices soared from around £77,500 to more than £156,000, while Peterhead jumped from around £69,000 to £139,000.

A further 15 coastal towns, out of a total of 59 surveyed, have recorded price increases of at least 50% since 2005, according to the bank.

Partly due to the substantial rises in the top performing towns, the average house price in Scotland’s seaside communities rose by 38% between 2005 and 2014 exceeding the 31% increase for Britain as a whole.

Newtonhill, south of Aberdeen, saw the largest rise, going from £199,902 in 2013 to £240,899 last year (21%).

Another top performer was Macduff in Aberdeenshire, with an increase of 15%.

The study also uncovered an east-west divide in house prices in seaside towns, with nine of the 10 most expensive to be found on the eastern coastline.

Nitesh Patel, housing economist at Bank of Scotland, said: “Seaside towns are highly popular places to live in Scotland as they offer a unique lifestyle with a typically high quality of life and a healthy environment.”