Banffshire house hunters pay price
Register for free to read more of the latest local news. It's easy and will only take a moment.
HOUSE buyers in Banff and Macduff are paying the price of the towns’ growing popularity as places to live.
Banff saw the second highest price percentage increase of all Scottish seaside towns, with Macduff the fourth highest.
Home purchasing costs rose by 84% and 72% respectively between 2005 and the end of 2010, according to the latest Bank of Scotland Seaside Towns Review.
The average house price in Banff at the end of last year was £138,335, compared to £75,287 in 2005.
Macduff rose to from £66,226 to £113,878 for the same period.
However, Macduff, where many homes have been slow to sell in the past 12 months, remains the ninth most affordable seaside town, with a house price to average earnings ratio of 3.17
Nitesh Patel, housing economist at Bank of Scotland, said: "Scotland’s seaside towns have always been popular places to live, but they have perhaps become even more so in recent years."
Read the full story in 'The Banffshire Journal'.
