St Andrews well above par for a home by the seaside
It is known as the Home of Golf, famed for its top university and boasting the stunning West Sands Beach which featured in the 1981 Oscar-winning drama Chariots of Fire.
So it is perhaps not that surprising a new research names St Andrews as Scotland’s most expensive coastal location for buying a home.
The average property in the historic Fife town will set you back by £458,381 - up 8 per cent in the past year, according to Bank of Scotland statistics for 2024.
North Berwick, in East Lothian, came in second place, with the average price for homes coming in at £419,723.
In third place was Dunbar, just 11 miles south, with its cliffs and coastal trails making it a desirable place for budding home-owners at an average of £292,073.
Homes in Gourock, Renfrewshire, experienced the biggest spike in price over 2024, with average prices soaring by 24 percent to £175,660.
In the last five years, the bank says prices in Scottish coastal towns increased by 25 per cent, compared with the UK’s overall average rise of 18 per cent.
Anstruther, in Fife, increased by £91,294, or 52 per cent, over a five-year period - the largest in Scotland over the same time period.
St Andrews is the priciest coastal location in Scotland, new research shows
An average home in Campbeltown is more than £350,000 cheaper than in St Andrews
Inverness recorded the highest combined value of coastal home purchases in Scotland over the last year, with deals totalling almost £195million.
This was followed by Ayr with £179million and Musselburgh with £93million.
Overall, the housing market for coastal locations in Scotland was worth around £1.9billion in 2024, up around 4 per cent from the previous year.
Ayr saw the biggest number of transactions with 963, followed by Inverness which recorded 915, and Greenock, by the Clyde estuary, with 626.
Coastal towns in Scotland are generally cheaper that their land-locked counterparts, with the 10 cheapest spots located along the shore line.
Campbeltown, in Argyll, was the cheapest north of the Border, with the average housing price at £103,078, down 11 per cent when compared with 2023.
Rothesay, on Bute, was the second least expensive with £111,764, followed by Millport, in Cumbrae, where the average cost was £114,008 and the Bute village of Port Bannatyne close behind with £115,421.
Isla Benzie, head of Bank of Scotland mortgages, said: ‘Scotland’s coastline offers something for everyone - from the historic streets of St Andrews to the island charm of Rothesay and Millport.
‘While some of the most sought-after locations continue to command premium prices, there are still plenty of affordable options for buyers willing to look beyond the traditional hotspots.
‘Coastal property prices in Scotland have risen over the past year, reflecting strong demand and the enduring appeal of seaside living.
‘But it’s also important to recognise the diversity of these communities - while some are thriving, others face real challenges linked to housing affordability, seasonal economies and access to services.’
