THE Scots town of Millport – on the North Ayrshire island of Cumbrae – is estimated to have witnessed the biggest leap in its annual house prices during last year – among the UK’s seaside towns.
According to research published by the banking group, Halifax, Millport has seen a 53 per cent increase during the 12 months upto the end of December last year in its house prices.
In other words, from an average £74,148 during 2020 to an average £113,292 during last year.
Halifax says Millport was last year’s ‘cheapest town’.
Meanwhile, Port Bannantyne, on the Isle of Bute, in the Firth of Clyde, topped the UK list for house price increases between 2016 and 2021 – from an average £71,550 in 2016 to an average £111,717 in 2021 – a 56 per cent increase over five years.
The Halifax’s calculations (here) involved 191 UK seaside towns. Second in the five-year listing was Kinghorn in Fife (from £125,956 in 2016 to £192,327 in 2021). Coming in sixth in the UK five-year list was the East Lothian town of Cockenzie (pictured) – from £138,962 in 2016 to £202,928 in 2021).
Meanwhile, the south-west of England took eight of the top ten most-expensive house prices in the UK:
Sandbanks (South-west) £929,187; Salcombe (South-west) £912,599; Padstow (South-west) £588,090; Lymington (South-west) £565,790; Aldeburgh (East Anglia) £515,444; Fowey (South-west) £491,042; Dartmouth (South-west) £485,760; Lyme Regis (South-west) £473,861; East Wittering (South-east) £472,364; and Kingsbridge (South-west) £464,85.
Pictured: Cockenzie harbour, Picture credit: Place Design Scotland