ST Andrews has taken the title of the most expensive place to buy a home by the coast in Scotland, according to new research from the Bank of Scotland.
Homes in the area cost around £423,419 on average, marginally up from 2022 and pushing North Berwick into second spot.
The price of properties in the East Lothian town – which had topped the “most expensive” list for the last six years – slipped back by 4% in 2023.
Homes there now cost £421,613, only slightly less than the average in St Andrews.
Dunbar, also in East Lothian, came in third spot as the most expensive coastal spot to buy a home in Scotland, costing around £304,569 on average.
The lowest average price for a home near the sea can be found in Rothesay in Bute, with homes there costing an average of £101,477.
Overall, Scotland offers some of the most affordable places across the UK to set up a seaside home, with all of the 10 least expensive coastal locations found in the country.
On average, people looking to buy a home by the sea in Scotland will find properties cost an average of £184,224, up 1% during 2023 and outperforming the average across the UK which saw a decline (-4%).
When looking over the past decade, the cost of Scottish coastal homes rose by almost a third (+31%) on average between 2013 and 2023.
Statistics showed properties in Cockenzie (+72%) and Anstruther (+70%) saw the biggest gains in the last 10 years.
Year on year, the cost of a home grew the most in Invergordon in the Highlands with homes in the area rising by over a third (+34%) to £154,293 on average.
Mortgages director at the Bank of Scotland Graham Blair commented: “Scotland’s stunning coastline and breathtaking scenery make it a wonderful place for many to call home.
“For buyers looking to live by the sea, Scotland offers real value in comparison to coastal areas in other parts of Britain.
“In fact, for those who are keen for a peaceful and tranquil life and a more remote way of living, Rothesay on the Isle of Bute is the most affordable place to live by the sea in all of Britain. Coastal properties here are £100,000 on average.
“At the other end of the scale, St Andrews is now the most expensive coastal location in Scotland.
“Well-known for its famous golf courses and home to the nation’s oldest university, average property prices in the area are now more than £423,000.
“Scenic North Berwick isn’t far behind with properties there fetching a similar price tag.”
