Home buyers pay an average 9% premium to live on the coast

New figures, published by the Bank of Scotland, reveal that the average cost of a home in the South Ayrshire town rose by 41% to �131,512 last year.

More than three quarters of Scotland's seaside towns saw an increase in house prices of at least 10%.

In Scotland the next best performing costal town was Arbroath which saw prices rise by 30%.

Property prices in the borders town of Eyemouth saw the strongest rise over a three year period with the average cost rising by a sizeable 82% to �155,278.

They attract a multitude of buyers including those looking for a lifestyle change, buy to let investors and second home buyers Tim Crawford Bank of Scotland

Out of the 10 largest increases in areas across Britain over the last three years, the top nine featured were all in Scotland.

The figures also revealed that the East Lothian town of North Berwick was the most expensive place to buy north of the border, with the average home costing �255,046, followed by St Andrews on �223,894.

Those prices compared with �488,761 in Sandbanks in Dorset which is revealed as the most expensive seaside town in Britain to buy in.

'Coastal parts'

Despite the increased costs of owning a home next to the sea Tim Crawford, group economist with the Bank of Scotland, said demand remained strong.

He said: "Scottish seaside towns have generally seen firm house price performance over the past year.

"They attract a multitude of buyers including those looking for a lifestyle change, buy to let investors and second home buyers."

The annual review of house prices also showed that the average seaside town trades at a premium of 9% to the prices paid elsewhere in an area.

The premium is largest in St Andrews with buyers being required to spend an extra 86%, while in North Berwick the premium is 39%.

The survey found that 15 out of the 20 Scottish seaside towns surveyed had a premium to the average house price in their area.

Mr Crawford said that it was still possible to find a bargain.

He added: "While most Scottish seaside towns trade at a premium to the house prices in surrounding towns, some opportunities still exist for home buyers, including coastal parts of Argyll and Ayrshire."