The town of Fraserburgh in Aberdeenshire has seen average house prices rise by more than any other seaside town in Scotland over the past ten years, according to new research from Bank of Scotland.
In the past decade, the average house price in Fraserburgh has grown by 95%, from £70,255 to £136,889 – significantly exceeding the 16% increase for all seaside towns in Scotland.
The report reveals that seven of the top ten coastal towns with the biggest house price increases are located in Aberdeenshire, including Inverbervie with a rise of £77,013 (62%) from £124,823 in 2006 to £201,837 last year, Macduff (53% increase - from £85,461 to £130,804), and Banff (48% rise - from £81,106 to £119,937).
After Fraserburgh, Lerwick in the Shetlands saw the second highest growth amongst Scottish seaside towns, rising by £70,081 to £160,689 – an increase of 77%. Other towns outside Aberdeenshire with the next biggest gains include Buckie in Banffshire (45% increase from £84,222 in 2006 to £121,862 in 2016) and Invergordon in the Highlands (43% increase from £80,284 to £114,632 over the same period).
“Living on the coast offers many attractions, including a typically high quality of life and attractive surroundings,” commented Graham Blair, mortgage director at Bank of Scotland. “As a result, property in seaside towns is often very popular with homebuyers.”
“Over the past ten years, the strongest performing seaside towns have been on the Aberdeenshire coastline, as the oil industry was experiencing its boom period,” he added. “However, more recently, house price growth has slowed down in many coastal towns meaning good value for money can be found for those searching to realise their dream of living near the sea."
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