December 31st 2024.
Shetland, a group of islands located 100 miles off the coast of northern Scotland, has recently made headlines for its staggering increase in house prices. Despite being known as the windiest place in the UK, Shetland has seen the highest percentage growth in house prices over the past year, according to new data.
The average house price in Shetland is now £215,170, a massive 21% increase since 2023 and 22% since 2019, as per recent research. However, the Registers of Scotland reported an even more dramatic uptick of 30% since 2018, making it a considerable difference compared to the mainland's comparative increase of 23%.
But Shetland is not the only place experiencing a surge in house prices. Cherwell in Oxfordshire came in second with an average house price of £367,770, showing a year-on-year increase of 9.3% and a five-year increase of 30%, according to estate agents Hamptons. East Renfrewshire in Scotland has also seen an 8.9% increase, placing their average house price at £303,980, while Blaenau Gwent in Wales has experienced an 8.4% uptick.
So, what makes Shetland so appealing? For starters, it's no secret that the islands are breathtakingly beautiful, making it a major factor in influencing people to relocate there. The population has also seen a significant rise in the past, increasing by 31% between 1971 and 1981 due to the oiling industry. Since then, the population has remained relatively stable, with just a slight increase from 22,000 to 23,000, as per data from the Shetland Islands Council.
One of the most well-known islands in Shetland is Unst, often referred to as the "real-life" Treasure Island due to its heavy inspiration on the book's author, Robert Louis Stevenson. In 1869, Stevenson visited the island and even signed the visitors' book at Muckle Flugga Lighthouse, which was designed and constructed by his father and uncle. The lighthouse, with its white and yellow stripes, resembles the one described in Treasure Island. The book also mentions the island's shape and rugged landscape, with its appearance resembling a "fat dragon standing up."
Despite writing the famous tale, Stevenson was also keen on preserving the island's sanctity. In 1893, he told the Sydney Morning Herald, "I only wish I knew where it was." He was careful not to give any indication of its whereabouts, fearing an "undue rush" towards it, and even directed readers towards the West Indies.
Now, you may be wondering how to get to Unst, the most northerly inhabited island in the British Isles. Don't worry; there are ferries from the Shetland Mainland or neighboring Yell. If traveling on foot, tickets cost just £2.80 for adults, 80p for over 60s, and children up to 19. However, if you're driving between islands, a return ticket will cost around £16.50.
From the mainland, you can travel from Toft to Ulsta on Yell and then change for one from Gutcher in Yell to Belmont in Unst. It may sound complicated, but the views and experiences are worth it. You can also take the 24 bus from Lerwick to Unst or fly to Sumburgh Airport in Shetland from Aberdeen, Edinburgh, Glasgow, or Inverness.
Shetland is also home to stunning scenery and outdoor walks. In Unst, the prime beauty spot is Hermaness National Nature Reserve, offering views of Da Waithing Skerries, a group of offshore rocks where you'll find Muckle Flugga lighthouse. It's also home to the UK's most northerly sandy beach, Skaw Beach, nestled in a hamlet that houses the UK's most northerly house.
The Shetland Tourism Board describes the islands as a "photographer's dream," with recommended spots such as West Sandwick Beach, Sands of Breckon, Eshaness Cliffs and Lighthouse, and Dore Holm. It's no wonder that Shetland has been described as a "photographer's dream."
However, with the surge in house prices, there are concerns that locals are being priced out of living on Shetland. But the Scottish Government has committed to building new affordable homes to ensure everyone is catered for. Housing minister Paul McLennan said, "Since April 2016, the Scottish Government has supported the delivery of over 1,100 affordable homes on islands across Scotland, and our commitment to delivering 110,000 affordable homes by 2032 – at least 10% of which will be in our rural and island communities – continues to be supported by our Rural and Islands Housing Action Plan."
He added that the Rural Affordable Homes for Key Workers Fund and Rural and Islands Housing Fund are key elements of their approach to addressing specific rural and island housing issues. The government also delivered secondary legislation to enable local authorities to make decisions about the council tax treatment of second homes, encouraging them to consider the role these homes play in their communities.
In conclusion, Shetland has seen the most significant increase in house prices since 2023, according to Hamptons. But it's not the only place experiencing a surge, with other areas such as Cherwell, East Renfrewshire, and Blaenau Gwent also seeing an increase. With its stunning landscapes, rich history, and unique charm, it's no wonder that Shetland is becoming a sought-after destination.
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