Oh I do like to be beside the seaside…! When the sun is out, where better to be than on the coast?
But that’s not the only reason why you might be happy living by the sea. Property values in Britain’s hottest coastal markets have surged in the past year while overall house prices have remained largely unchanged, according to Quickmove Properties.
Property values across 100 of the nation’s most popular coastal locations have jumped by 4.2% in the past 12 months. In contrast, average national house prices edged up by just 0.8% over the same timescale.
In fact, house prices climbed in 92 of the coastal hotspots. Values remained static in one seaside location, and they dipped in seven, the over-50s property specialist reveals.
Mark O’Dwyer, Sales Director at Quickmove Properties, says somewhat evocatively: ‘From Scotland’s wild shores to the calm sands of Cornwall, so many of us crave to live by the sea.
‘Such is the pull of coastal living that many local house prices stand stoic like a lighthouse in a storm against broader negative trends in the national market.’
Coastal price boom in Scotland
Scotland leads the coastal house price booms. Homes in Lossiemouth on the north east coast increased by 19%. Dubbed the ‘Riviera of the North’ and the ‘jewel of the Moray Firth’, it is known for its wide sandy beaches, picturesque countryside, sailing, and golf. And with an average house price of £178,000, the town appears good value compared with other coastal hotspots.
It was followed by Burntisland in Fife (17.9%), Irvine in North Ayrshire (16.2%), Ayr in south Ayrshire (14%), and Cockenzie in East Lothian (13.1%). Property values in these spots all fall within the £100k - £250k price bracket.
Portmeirion in Wales and Newquay in Cornwall gives Scotland a run for its money though. House prices in these areas jumped by 11.7% and 10% respectively.
Highest premiums in the south (still)
But while a home with sea views tops many buyers’ wish lists, it can come at a price premium. A hefty one, particularly in the south.
Salcombe, which sits on the banks of the Kingsbridge Estuary in Devon, takes the top spot. A familiar name at the top of these types of rankings, values in the seaside town are an eye-watering 104% higher than in the wider South Hams area. If you fancy a home here, expect an average price tag of £809,310.
Following behind is Southold in Suffolk, where homes are worth an average £532,673. That’s £83.6% higher than the surrounding East Suffolk area.
Sandbanks in Dorset comes in third place, with prices 81.2% more than the wider average for Bournemouth, Christchurch and Poole.
Other coastal locations that command chunky house price premiums include:
- Aldeburgh in Suffolk (77.4%)
- Padstow in Cornwall (66.9%)
- Porthcawl in Wales (40.9%)
- Fowey in Cornwall (40.6%)
- Seahouses in Northumberland (40.2%)
- North Berwick in East Lothian (37.2%)
- Budleigh Salterton in Devon (36.9%).
House buyers pay up to 122% more to live in one of Britain's most beautiful areas
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