Britain’s most expensive seaside towns for homebuyers
The Halifax Seaside Town Review tracks house price movements in 191 seaside towns in Great Britain, with Salcombe topping the list of the most expensive.
The Halifax Seaside Town Review tracks house price movements in 191 seaside towns in Great Britain.
The review is based on house price data from the Land Registry and Registers of Scotland.
Key findings in Review:
- The average price of a property in a British seaside town is now £265,978, a leap of 10% (£24,055) over the last year.
- Salcombe in Devon is Britain’s most expensive seaside town, with an average house price of £950,325. Sandbanks in Poole is second on the list at £835,971.
- St Mawes in Cornwall has seen the biggest increase in average prices of any seaside town over the last year, jumping by almost half (48%) from £339,912 to £501,638.
- Scotland dominates the list of Britain’s least expensive seaside towns – with Millport, on the Isle of Cumbrae, offering the most affordable properties at an average of just £74,148.
- Over the last ten years, the average house price in Britain’s seaside towns has risen by 36% (or £71,046) from an average of £194,932 in 2011 to £265,978 in 2021.
- Padstow in Cornwall has seen the biggest average price rise of any seaside town over the last decade, jumping by over a quarter of a million pounds (£264,910), from £351,458 to £616,368.
Russell Galley, Halifax Managing Director, said:
“The housing market has experienced some dramatic changes over the past year, brought about by the impact of the pandemic. But one thing that remains constant is the Brits’ love of the seaside. Properties in these towns have always been highly sought after – with residents prizing the picturesque scenery and coastal way of life – meaning a big price premium in the most desirable locations.
“As many people re-evaluate their work and lifestyle priorities, the South West has been a magnet for those drawn to a life by the water, with Salcombe, Sandbanks and Padstow the three most expensive seaside locations in Britain. However, more affordable options exist for those willing to move further north, with many towns on Scotland’s coastline offering great value for money.”
Kindly shared by Halifax
Main photo courtesy of Pixabay
