Known for its prestigious university and world-renowned golf courses, the average property price in St Andrews has risen slightly from 2022 to £423,419, pushing North Berwick into second place.

The price of properties in the East Lothian town of North Berwick – which had retained the ‘most expensive’ title for the last six years – slipped back -4% in 2023. Homes in the desirable town now cost £421,613 on average, only slightly less than those in St Andrews.

Dunbar, also in East Lothian, completes the top three most expensive coastal areas to buy a home in Scotland, setting buyers back £304,569 on average.

The lowest average price for a home near the sea can be found in Rothesay on the Isle of Bute – homes here cost an average of £101,477.

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 homes found in the nation.

Those looking to purchase a home by the sea in Scotland will find that, on average, properties cost £184,224, up 1% during 2023 and outperforming the average across the UK which saw a decline (-4%).

When looking over the last decade, the cost of Scottish coastal homes rose by almost a third (+31%) on average between 2013 and 2023.

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 Scottish Highlands. Homes in the area rose by over a third (+34%), to £154,293 on average.

Graham Blair, mortgages director at the Bank of Scotland, said: “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.”