Love a bracing walk on the beach? You’re not alone! Homes by the sea are as popular as ever, with prices surging ahead of the rest of the UK.
New research shows that living by the seaside is as popular as ever, with house prices in coastal areas soaring despite the sluggish property market elsewhere in the UK. The average cost of a coastal home is now £250,644, a jump of 4.2% in just the last year!
This is in contrast to the rest of the country where average house prices have barely budged, inching up by just 0.8% over the same period. In fact, in many areas where these popular coastal towns are located, prices have flatlined completely, with zero growth over the last year.
9 out of 10 Coastal Towns See Prices Rise
It’s not just a few lucky seaside spots that are booming. A staggering 92 out of 100 coastal property markets analysed have seen prices climb over the past year, with only a handful experiencing a dip.
Scottish Seaside Towns Ride the Crest of the Wave
Scotland is the place to be if you’re looking for the biggest price surges, with Lossiemouth leading the pack with an incredible 19% increase. Burntisland isn’t far behind at 17.9%, followed by Irvine (16.2%), Ayr (14%), and Cockenzie (13.1%).
Wales also gets a look in with Portmeirion seeing an impressive 11.7% climb, while Newquay in England boasts a healthy 10% rise.
South Coast Commands Top Prices
As any beach bum knows, living by the sea comes at a premium, and nowhere is this more true than on the south coast.
Salcombe in Devon takes the crown as the most expensive seaside town, with an average house price of £809,310. That’s a whopping 104% higher than other properties in the same area!
Southwold in Suffolk comes in second, with an average price tag of £532,673 – 83.6% higher than its surrounding area. And if you’re dreaming of a beach hut in Sandbanks, Dorset, be prepared to shell out an average of £603,532, a hefty 81.2% premium compared to nearby towns.
Other pricey coastal havens include Aldeburgh (77.4% above average), Padstow (66.9%), Porthcawl (40.9%), Fowey (40.6%), Seahouses (40.2%), North Berwick (37.2%), and Budleigh Salterton (36.9%).
Coastal Living: A Price Worth Paying?
Mark O’Dwyer, from Quickmove Properties, says, “The British coast has always had a special allure for homebuyers. Whether it’s the rugged beauty of Scotland or the sandy beaches of Cornwall, we all seem drawn to the sea. This popularity means that coastal properties are holding their value incredibly well, even when the wider market is struggling.”
But he also acknowledges that these high prices are putting coastal living out of reach for many: “The cost of buying a property by the sea can be incredibly high, making it a distant dream for many. That’s why we’re seeing more and more people downsizing to coastal park homes. For a fraction of the cost, you can enjoy a modern, comfortable home in a stunning seaside location.”