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Saturday, 27 May 2017

The fishing port where the catch is soaring house prices

Previously known as the biggest shellfish port in Europe, the port of Fraserburgh in north-east Scotland now has another claim to fame.
Over the last decade, house prices here have risen faster than any other seaside town in Britain.
According to the Halifax, prices have nearly doubled, from an average of £70,000 in 2006, to £137,000 in 2016.
Over the period, many parts of Aberdeenshire saw large increases as a result of the oil boom.
For similar reasons, Lerwick in the Shetlands experienced a 77% rise in prices, making it the seaside town with the second-fastest growth.
On average, the cost of a home by the sea rose by 25% during the last decade, or £382 a month, the Halifax said.
"The strongest-performing coastal towns in terms of growth have been in north of the border in Scotland, where property prices on the Aberdeenshire coastline have been helped by the oil industry more than the sunshine," said Martin Ellis, Halifax's chief economist.
Source By BBC.COM



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