Sandbanks tops Britain’s list of most expensive seaside towns
Average house prices in UK seaside towns have increased by 29% in the past decade with Sandbanks in Poole the most expensive for the fourth year in a row.
A home in this sought after coastal location cost an average of £785,426 and that price has increased by an average £161,944 or 26% in the past year, according to research from lender the Halifax.
The second most expensive seaside town is Aldeburgh, which is also the only seaside town in the top 10 to have seen a dip in house prices over the last year, by an average of £22,773, to £526,064. This is followed by Lymington with an average house price of £502,253 and Padstow at £482,015.
Overall since 2009 the average house price in Britain’s seaside towns has risen by 29%, from an average £185,428 in 2009, to £239,138 in 2019.This equates to an average increase of over £5,000 a year.
The South East has the largest growth in seaside town prices, with the majority of the top 20 seaside towns with the biggest house price growth, over the last 10 years, dotted along the South East coast.
Average house prices in Southend on the coast have risen by 73% or £311,718, followed by Shoreham by the Sea up 69% and then Whitstable and Herne Bay, both up 63%. The only seaside towns in the top 20 outside the South East are Lerwick in the Shetlands where prices are up 62%, Wadebridge up 56%, Brancester up 49% and Aldeburgh up 46%.
The most affordable seaside towns are in Scotland and the North of England. Port Bannatyne is the most affordable town with an average price of £86,830, closely followed by Campbeltown at £87,651. England’s least expensive seaside town is Newbiggin by the Sea in Northumberland, with an average house price of £88,844.
‘Seaside towns are highly popular places to live, offering sought after scenery, lifestyle and good weather. Being by the sea side does come at a price, with the overall marked increase in house prices, reflecting the demand for rooms with a sea view,’ said Russell Galley, Halifax managing director.
‘The South East coast continues to be home to the most expensive seaside towns in the country, while many of the least expensive are in the north, particularly in Scotland. Despite a clear North/South divide in property prices among seaside towns, the continuing price growth in many Northern seaside towns over the years suggests the popularity of coastal living isn’t exclusive to the South,’ he added.