House Prices Surge At The Seaside

A new report by Halifax has found that house prices in a number of seaside towns in Aberdeenshire have doubled in the last 10 years.

In Fraserburgh, property prices have increased by 141%, from an average of £53,600 in 2004 to more than £129,000 in 2014.

Cove Bay (119%), Peterhead (118%), Inverbervie (114%) and Stonehaven (101%) saw the next biggest gains in the Scottish region.

Elsewhere in the report, Halifax said that house prices in seaside towns throughout the UK had risen by around £500 a month over the last decade, but it was still "significantly cheaper" than property prices throughout Britain in general.


Craig McKinlay, Mortgage Director at Halifax, explained: "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."

Figures from Land Registry and the Registrar of Scotland were used for the study.

(JP/IT)