Salcombe is the UK's most expensive seaside town

Seaside town

Salcombe in Devon has been named the most expensive place to live by the sea, with an average property price of £672,824.

Sandsbank in Devon and Aldeburgh in East Anglia followed just behind in the list compiled by Halifax, with average prices of at £614,726 and £413,393 respectively.

House prices in British seaside towns have increased by a third over the past 10 years, according to Halifax.

The average property price rose by 31% – or £49,207 – from £159,522 to £208,729 in the last decade. However, there is a marked North-South divide when it comes to property prices, with all of the top 10 most expensive made up of towns from southern England.

North-South divide

Elsewhere, the most expensive towns were Scotland's St Andrews (£294,586), North Berwick (£294,076), Stonehaven (£243,741) and Mumbles in South Wales (£271,349).

In fact, the research found that the biggest house price rises were all recorded in Scotland, with Fraserburgh in Aberdeenshire seeing the largest rise from £63,540 in 2005 to £132,920 in 2015 – an increase of 109%.

Yet despite the price increases in Scotland, eight of the cheapest seaside towns across the UK are also found north of the border.

Port Bannatyne on the Isle of Bute is the least expensive with an average of price of just £73,539, followed by Newbiggin-by-the-Sea in Northumberland (£81,339) and Campbeltown in Argyll and Bute (£85,659).

Craig McKinlay, mortgages director at Halifax, said: "Seaside towns have a distinct attraction, offering that all-important sea view with a typically high quality of life in a healthy environment. There is a romance associated with living by the sea and this is evident in the high house prices seen in many of these areas.

He added: "Despite a clear North-South divide in property prices among seaside towns, the rapid price growth in many Scottish seaside towns over the last 10 years suggests the popularity of coastal living has spread out across the whole country. Of course, the boom in the Scottish oil sector during the period also provided a boost to house prices, particularly in several towns along the Aberdeenshire coastline."