Seek to sea more: £785k to anchor down and live in Britain’s most expensive seaside town
05 May 2019
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
Average house prices in Southend on Sea have grown over 50% in five years
Sandbanks in Poole remains Britain’s most expensive seaside town for the fourth year running; according to Halifax’s latest research. A home in this sought-after coastal location will set you back an average £785,426 - up by an average £161,944 (26%) in the past year.
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 (£482,015). (See Table 1.)
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. (See Table 2.)
The South East remains ‘shore’ of itself with 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 Sea have risen by 73% (£311,718) followed by Shoreham by the Sea (69%) and Whitstable and Herne Bay (both 63%). The only seaside towns in the top 20 outside the South East are Lewick in the Shetlands (62%), Wadebridge (56%), Brancester (49%) and Aldeburgh (46%).
Most affordable seaside towns in Scotland and the North
Of the ten least expensive seaside towns; nine are in Scotland. Port Bannatyne is the most affordable town with an average price of £86,830, closely followed by Campbeltown (£87,651). England’s least expensive seaside town is Newbiggin by the Sea in Northumberland, with an average house price of £88,844. (See Table 3.)
Russell Galley, Halifax Managing Director, said: “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.
“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.”