House prices in some areas of the UK have been rising rapidly and that has some experts in the housing market fearing a housing bubble.  To reflect on the level of house price increases, Halifax studied data and found that five seaside towns in Aberdeenshire have recorded house prices that have almost doubled from the levels reported in 2004.  Fraserburgh, Cove Bay, Peterhead, Inverbervie and Stonehaven ranked the top five that saw the biggest gains.

Fraserburgh experienced the largest increase in house prices with the average in 2004 recorded at £53,600 and £129,000 in 2014 which is an increase of 141%.

Hometrack issued that as a whole the UK has experienced a rise in the average house price over the past decade of approximately £500 per month.

There are still some affordable water front homes available with the least expensive seaside town out of 196 reviewed for house prices being Newbiggin-by-the-Sea which had an average house price of £83,760.  The most expensive seaside town was Salcombe in Devon with an average house price of £615,344.

In response to the data, Craig McKinlay, mortgage director at Halifax, said, “Seaside towns provide a unique lifestyle opportunity and remain popular places for people to live, while also attracting those looking for second homes or holiday properties which can place additional upward pressure on house prices.

“For once, oil and water have mixed - with Aberdeenshire at the heart of Scotland's vigorous energy industry, it's little wonder that seaside houses have increased so substantially.”

Halifax used data from the Land Registry and the Registrar of Scotland to conduct the study.