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Five Scottish towns have seen house prices double since 2004

Five Scottish towns have seen house prices double since 2004

Seaside properties in five Scottish areas have doubled in value since 2004.

Summary:

  • Five areas in Aberdeenshire have seen their property values double
  • 20 more regions along the coast have experienced a 50% climb in property values
  • Fraserburgh house prices rose the most, increasing by 139%

Scotland has seen five of its towns experience a doubling of house prices over the past eight years, the Bank of Scotland has reported.

The areas are situated on the Aberdeenshire coast and 20 more towns by the sea have had a 50% increase in the value of their properties since 2004.

Nitesh Patel, Housing Economist at Bank of Scotland, said: “Seaside towns are highly popular places to live in Scotland as they offer a unique lifestyle with a typically high quality of life and a healthy environment.”

He added that towns in Aberdeenshire have fared particularly well over the last ten years, as this reflects the “strength of the local economy over this period”.

According to the research, houses on Fraserburgh rose in value by 139% between 2004 and 2012, increasing from £53,641 to £128,418.

The town to see the second biggest rise was Peterhead, with prices climbing 115% during this period.

Seaside areas are proving to be popular all over the UK, after Halifax revealed property prices along England and Wales’ coastal areas have risen by 63% since 2003.

Photo Credit: Shutterstock.com’s Meunierd

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