Posts with tag: seaside properties

Most and least affordable seaside property locations in England, Wales and Scotland

Published On: June 25, 2020 at 8:42 am

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seaside property

Estate agent comparison site GetAgent has analysed house prices in 100 seaside towns to find the most and least affordable areas to invest in a UK holiday home.

These results, looking at seaside towns across England, Wales and Scotland, found the average property price to be £264,258. This is 14% higher than the current national property price average of £232,401.

According to the results, the top 10 least affordable seaside areas are:

  1. The Sandbanks in Poole (average house price of £619,431)
  2. Salcombe (average house price of £602,667)
  3. Aldeburgh (average house price of £507,143)
  4. Lymington (average house price of (£482,071)
  5. Dartmouth (average house price of £458,051)
  6. Southwold (average house price of £447,855)
  7. Padstow (average house price of £433,812),
  8. Lyme Regis (average house price of £425,238),
  9. Bigbury on Sea (average house price of £416,965)
  10. Hayling Island (average house price of £400,678)

15 out of the 20 most affordable seaside towns are located in Scotland, making up eight of the top 10 most affordable. Campbeltown is the most affordable, with an average house price of £71,500. This is 69% lower than the UK average house price.

Outside of Scotland, Blackpool is the most affordable in England and Wales (£93,104), along with Newbiggin by the Sea (£99,017). 

Founder and CEO of GetAgent, Colby Short, commented: “As a nation, we love to be beside the seaside, as the recent hot weather has demonstrated despite lockdown restrictions remaining in place. However, on average, the cost of living there will set you back above and beyond the wider UK average. 

“It’s also clear that the house price ripple effect isn’t just confined to the outer boroughs of London and it’s clear that as a number of seaside hotspots have increased in value, smaller neighbouring towns have also seen the benefit of this overspill in demand.  

“If you can’t afford to live in Padstow for example, opting for nearby Wadebridge provides the next best option and while it isn’t cheap in itself, it still provides a serious property price discount in the region of fifty thousand pounds.

“Of course, this heightened demand for these ‘next best’ options will often cause prices to increase and so the downside to this is a reduction in affordability in the long term. 

“That said, this process can come full circle and areas such as the Sandbanks that are extremely sought after at the top end of the ladder have since seen demand fall off and prices fall due to an over-inflated market.

“While these areas will always carry an air of prestige and attract a certain type of buyer, in tougher market conditions they are often the first to see the largest corrections in price as demand falls off and asking prices suffer.”

Most Expensive Seaside Towns in the UK

Published On: June 1, 2015 at 10:27 am

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Salcombe is the most expensive seaside town in Britain, revealed research from the Halifax, which analysed house prices in seaside spots.

The average property price in Salcombe is a high £672,874.

The study found that house prices in seaside towns have soared by a third. This is an average price rise of £49,207, from £159,522 to £208,729.

Understandably, there is a clear north-south divide, with all ten of the most expensive towns in the South of England, seven of which are in the South West.

Following Salcombe in Devon is Sandbanks, Dorset, where the average property is £614,726. Outside the South West, the most expensive town is Aldeburgh, Suffolk at £413,393.

The ten most expensive seaside towns

Town

 Region

Average house price
Salcombe South West £672,874
Sandbanks South West £614,726
Aldeburgh East Anglia £413,393
Lymington South East £404,781
Dartmouth South West £403,767
Padstow South West £387,109
Lyme Regis South West £343,604
Budleigh Salterton South West £342,442
Bigbury on Sea South West £333,626
East Wittering South East £330,146
All seaside towns   £208,729

 

Most Expensive Seaside Towns in the UK

Most Expensive Seaside Towns in the UK

Property prices have continued to increase in several seaside spots in the last 12 months. Newtonhill, Aberdeenshire and Shoreham by Sea recorded the highest annual price growth at 20%, four times the average for all seaside towns.

Behind these were Sandwich, Kent at 18%, Watchet, Somerset at 18%, Seaton, Devon at 17% and Dalgety Bay, Fife at 16%.

However, the largest house price rises in seaside areas in the past decade were all in Scotland. Fraserburgh, Aberdeenshire experienced a massive 109% increase, growing from £63,540 in 2005 to £132,920 in 2015.

Lerwick in the Shetlands and Peterhead, Aberdeenshire shared the next highest growth at 102%. A local economic boom from the oil industry could have caused the increases, particularly in Aberdeenshire.

Despite these large rises, Scottish seaside towns account for eight out of ten of the least expensive in the UK.

Port Bannatyne on the Isle of Bute is the least expensive, with an average house price of £73,539. This is almost £600,000 less than in Salcombe.

The ten least expensive seaside towns

Seaside town

 Region

Average house price
Port Bannatyne Scotland £73,539
Newbiggin by the Sea North £81,339
Campbeltown Scotland £85,659
Thurso Scotland £88,500
Girvan Scotland £89,064
Wick Scotland £90,124
Saltcoats Scotland £90,583
Stranraer Scotland £90,590
Withernsea Yorkshire and the Humber £92,868
Irvine Scotland £93,736

Outside northern Britain, the least expensive seaside town is Lowestoft, where the average house price is £153,025. Great Yarmouth follows at £159,965 and Margate is third at £164,995.