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St Andrews overtakes North Berwick in coastal property prices
Castle Sands Beach on the coast of St Andrews
St Andrews has been named the most expensive coastal town in Scotland to buy a house in, according to the Bank of Scotland.
Known for its prestigious university and world-renowned golf courses, the average property price in St Andrews has increased slightly from 2022 to £423,419, pushing North Berwick into second place.
Property prices in the East Lothian town of North Berwick – which has held the ‘most expensive’ title for the past six years – have fallen -4% in 2023. Homes in the desirable town now cost £421,613 on average, only slightly less than those in St Andrews.
Dunbar, also in East Lothian, rounds out the top three most expensive coastal areas to buy a house in Scotland, costing buyers £304,569 on average.
Scotland’s most expensive coastal locations 2023-24 (Source: Registers of Scotland 2023 Full Year Results)
The lowest average price for a house near the sea can be found in Rothesay on the Isle of Bute – houses here cost an average of £101,477.
Scotland offers some of the most affordable places across the UK to build a seaside home, with all 10 of the cheapest coastal homes found in the country.
Those looking to buy a seaside home in Scotland will find that on average properties cost £184,224, an increase of 1% during 2023 and exceeding the average across the UK, which has seen a decline (-4%). .
Looking over the last decade, the cost of Scottish coastal homes has increased by almost a third (+31%) on average between 2013 and 2023.
Cheapest coastal locations in Scotland 2023-24 (Source: Registers of Scotland Full Year Results 2023)
Properties in Cockenzie (+72%) and Anstruther (+70%) have seen the biggest gains over the last 10 years.
Year after year, the cost of a house has risen the most in Invergordon, in the Scottish Highlands. Homes in the area rose by more than a third (+34%), to £154,293 on average.
Graham Blair, director of mortgages at Bank of Scotland, said: “Scotland’s stunning coastline and stunning landscapes make it a wonderful place for many to call home. For buyers looking to live by the sea, Scotland offers real value compared to coastal areas in other parts of Britain.
“In fact, for those wanting a peaceful, quiet life and a more remote way of life, Rothesay on the Isle of Bute is the most affordable place to live by the sea in the whole of Britain. Coastal properties here cost an average of £100,000.
“At the other end of the scale, St Andrews is now the most expensive coastal location in Scotland. Known for its famous golf courses and home to the country’s oldest university, average property prices in the area are now over £423,000. Picturesque North Berwick is not far behind, with similarly priced properties.