House prices 'soar' in seaside towns

BBC News - Aberdeenshire seaside house prices soar, Halifax finds /**/ .bbccom_display_none{display:none;} Accessibility links Skip to content Skip to local navigation Accessibility Help BBC iD BBC iD Settings Sign out BBC navigation News Sport Weather iPlayer TV Radio More… Search term: Scotland business Home World UK England N. Ireland Scotland Wales Business Politics Health Education Sci/Environment Technology Entertainment & Arts Scotland Politics Scotland Business Edinburgh, Fife & East Glasgow & West Highlands & Islands NE, Orkney & Shetland South Tayside & Central 24 May 2014Last updated at 12:17 Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Aberdeenshire seaside house prices soar, Halifax finds Fraserburgh experienced the biggest percentage price rise in the survey Continue reading the main storyRelated StoriesUK house prices 'up 8% in a year'Property market 'still constrained'Scottish house prices rise by 3.5% Five seaside towns in Aberdeenshire have recorded at least a doubling in house prices since 2004, a report by Halifax has found.

Fraserburgh experienced the biggest rise with a 141% increase - from an average price of jut over £53,600 in 2004 to more than £129,000 in 2014.

Cove Bay, Peterhead, Inverbervie and Stonehaven saw the next biggest gains.

In the UK as a whole, house prices in seaside towns have risen by about £500 a month over the last decade.

But Halifax found that coastal living was still significantly cheaper than property prices across Britain generally.

Newbiggin-by-the-Sea in Northumberland was found to be the least expensive seaside town out of the 196 looked at across Britain, with an average house price of £83,760.

'Unique lifestyle'

Salcombe in Devon was found to be the most expensive coastal town, with average house prices at £615,344.

Craig McKinlay, mortgage director at Halifax, said: "Seaside towns provide a unique lifestyle opportunity and remain popular places for people to live, while also attracting those looking for second homes or holiday properties which can place additional upward pressure on house prices.

"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."

The study used figures from the Land Registry and the Registrar of Scotland.

UK seaside towns with biggest house price increases since 2004TownCurrent pricePercentage increase since 2004 Source: Halifax

1. Fraserburgh Scotland

£129,235

141%

2. Cove Bay, Scotland

£180,499

119%

3. Peterhead, Scotland

£130,234

118%

4. Inverbervie, Scotland

£215,593

114%

5. Stonehaven, Scotland

£228,037

101%

6. Aldeburgh, East Anglia

£446,576

95%

7. Montrose, Scotland

£118,441

94%

8. Prestonpans, Scotland

£168,772

93%

9. Wadebridge, South West

£371,670

91%

10. Workington, North

£131,557

91%

More on This Story .related-links-list li {position: relative;}.related-links-list .gvl3-icon {position: absolute;top: 0;left: 0;} Related Stories UK house prices 'up 8% in a year' 20 MAY 2014, BUSINESS Property market 'still constrained' 08 MAY 2014, SCOTLAND BUSINESS Scottish house prices rise by 3.5% 29 APRIL 2014, SCOTLAND BUSINESS From other news sites Carluke Gazette Seaside area house prices increase 9 hrs ago Easier Rising tide of Scotland's seaside town house prices 15 hrs ago Northampton Chronicle and Echo House prices by sea 'increase 42%' 19 hrs ago Wales Online House prices rise in seaside towns, but coastal living still cheaper 19 hrs ago Herald Scotland Rooms with a view: Property prices double beside the sea 23 hrs ago About these results Related Internet links Halifax Registers of Scotland Land Registry The BBC is not responsible for the content of external Internet sites

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Posted in: House, prices, seaside, towns