Are wealthy buyers stoking St Andrews’ housing crisis?

Ben Stuart, director of residential and business services at the University of St Andrews, highlighted its annual £480m contribution to Scotland’s economy, supporting 9,000 jobs in the Fife and Tayside area.

He said: “St Andrews obviously borders with the ocean and green belts. There’s not a lot of space left to provide that type of housing.

“All entities have to get together here and understand how they can relieve the pressures.

“Students are often unfairly blamed for the housing situation, when evidence shows it is a much more complex picture.”

Stuart said this was reflected in property prices and the trends identified by BBC Scotland News.

He added: “Quite often, those with the deepest pockets are simply outbidding – by a substantial margin – locals who try to acquire property in town.

“And often those with the deepest pockets are from overseas.”

Debbie MacCallum, a local entrepreneur and chairwoman of St Andrews Business Improvement District, said the town’s international profile supported thousands of jobs and was “hugely valuable to our local businesses and the wider economy”.

She added: “However, a globally recognised town also has to work for the people who live here all year-round and St Andrews is, first and foremost, a community.

“As demand for property grows, we need to continue having sensible conversations about how we balance the benefits of international investment with the need for homes, businesses and services that support a thriving local community.”