Seaside House Price Increase

Growth in the housing market has spread to the seaside, with five Scottish coastal towns recording at least a doubling in house prices.

All of the towns are in Aberdeenshire, with Fraserburgh showing the biggest rise from an average price of £53,641 in 2004 to £129,325 in 2014, a jump of 141%.

Cove Bay rose to £180,499 while average values in Peterhead increased from £59,749 to £130,234.

Property prices in Inverbervie increased by 114% to £215,593 and in Stonehaven, the country's most expensive coastal town, there was a 101% rise from £113,214 to £228,037.

According to the survey by Halifax, property prices in seaside towns across the UK have grown by 42% in the last 10 years to an average of £196,826.

It equates to a rise of about £485 each month over the last decade, but coastal living is still significantly cheaper than property prices across the UK generally, the report found.

Scotland leads the way in terms of the biggest house price rises over the last decade but the most expensive coastal towns in the UK are Salcombe and Sandbanks in the south west of England at £615,344 and £574,089 respectively.

Scotland makes up eight of the top ten cheapest seaside towns, according to the report.

Newbiggin-by-the-Sea in Northumberland has the cheapest average house price at #83,760, followed by Port Bannatyne in Bute and Girvan in South Ayrshire both at around £85,000.

Ardrossan, Wick, Irvine, Stranraer, Campbeltown and Saltcoats also feature in the least expensive list.

Craig McKinlay, mortgage director at Halifax, said: "For once, oil and water have mixed - with Aberdeenshire at the heart of Scotland's vigorous energy industry, it's little wonder that seaside houses have increased so substantially.

"In fact, Aldeburgh in East Anglia, Wadebridge in the South West and Workington in the North are the only non-Scottish entrants in the top ten places experiencing seaside house price growth.

"Living near the seaside remains an achievable dream for many. Even in the places experiencing the biggest house prices rises in the past ten years, four are still substantially below the UK average.

"Places like Workington, and Montrose, Peterhead and Fraserburgh have experienced exceptional growth but on average houses cost below #150,000.''

Here are the 10 seaside towns which have seen the biggest house price increases over the last 10 years, with the average house price now and the percentage change:

1. Fraserburgh, £129,325, 141%.

2. Cove Bay, £180,499, 119%.

3. Peterhead, £130,234, 118%.

4. Inverbervie, £215,593, 114%.

5. Stonehaven, £228,037, 101%.

6. Aldeburgh, £446,576, 95%.

7. Montrose, £118,441, 94%.

8. Prestonpans, £168,772, 93%.

9. Wadebridge, £371,670, 91%.

10. Workington, £131,557, 91%.

Here are the 10 least expensive seaside towns, with the average house price:

1. Newbiggin-by-the-Sea, £83,760.

2. Port Bannatyne, £85,605.

3. Girvan, £85,868.

4. Wick, £89,582.

5. Ardrossan, £89,974.

6. Irvine,  £90,428.

7. Stranraer, £90,552.

8. Campbeltown, £91,276.

9. Saltcoats, £92,205.

10. Withernsea, £92,251.

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