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.

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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.

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“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.”