Scotland is cheapest for homes at seaside

SEASIDE properties in Scotland are the cheapest in the UK for those looking for a beachside bargain.

Scotland dominates the top ten list of least expensive seaside homes, according to analysis by Halifax bank.

Millport, on the island of Great Cumbrae, is the best place to snag a seaside house, with the average price coming in at £74,148.

Other bargain ‘hot spots’ include Greenock, Renfrewshire, the Caithness towns of Thurso and Wick and Campbeltown and Rothesay, Argyll.

In contrast, North Berwick in East Lothian is Scotland’s most expensive seaside town, with an average house

‘Great value for money’

price of £401,590. St Andrews in Fife is second on the list at £354,136.

The average price of a home by the sea increased by more than £24,000 over the past year, according to the analysis. At £265,978 on average, this is an annual leap of 10 per cent or £24,055, Halifax said.

While those south of the Border are shelling out up to £1million for a house in the South West of England, Scottish towns make up the entire top ten for cheapest properties.

Salcombe in Devon was identified as Britain’s most expensive, with an average price of £950,325.

St Mawes in Cornwall has seen the biggest increase in average house price of any seaside town over the past year, up by nearly half (48 per cent) from £339,912 to £501,638.

Over the past ten years, the average house price in Britain’s seaside towns has risen by 36 per cent, or £71,046, from £194,932 in 2011.

Padstow in Cornwall has seen the biggest average rise of any seaside town over the period, with prices jumping by more than a quarter of a million pounds (£264,910), from £351,458 to £616,368.

Russell Galley, Halifax managing director, said: ‘As many people re-evaluate their work and lifestyle priorities, the South West has been a magnet for those drawn to a life by the water, with Salcombe, Sandbanks, in Dorset, and Padstow the three most expensive seaside locations in Britain.

‘However, more affordable options exist for those willing to move further north, with many towns on Scotland’s coastline offering great value for money.’