Need help reading this page? Click to activate Recite Me popup.

Salcombe most expensive place to buy a seaside home


05 April 2023

  • Britain’s most expensive seaside homes are in Salcombe, Devon, costing over £1.2 million, on average 
  • Sandbanks falls into second place, with properties averaging £952,692
  • Average price of a seaside home in Britain now £304,460, a rise of 4% in 2022 vs 2021
  • Yarmouth (Isle of Wight), Aldeburgh (Suffolk) and Campbeltown (West Scotland) saw the biggest house price increases in 2022
  • Salcombe, Margate and Westgate-on-Sea have seen the greatest seaside house price growth over the last decade 
  • Greenock in Scotland has Britain’s lowest average seaside house price, at £97,608

 

Picturesque Salcombe in Devon is the most expensive seaside setting in Britain to buy a home, according to the latest analysis from Halifax.

The town has swapped places with last year’s priciest spot – Sandbanks in Dorset - with an average price tag of £1,244,025.

Homes in Sandbanks cost an average £952,692, with Aldeburgh making up the top three most expensive seaside areas to buy a home. The Suffolk spot will set buyers back £794,492, on average, and is the only place outside of the South West or South East of England to appear in the top 10.

The lowest average price for a home near the sea can be found in Greenock, Scotland, where homes cost on average £97,608. With the exception of Newbiggin-by-the Sea (in the North East of England), nine of the 10 least expensive seaside locations are in Scotland.

Coastal costs

The cost of the most expensive coastal homes in Britain more than doubled between 2012 and 2022. Sellers in Salcombe made the greatest gains, as average prices increased by 123% (£558,538 vs £1,244,025) over the last decade. At the end of 2022, homes in Margate cost 109% more, on average, than they did in 2012 (£146,276 vs £305,191) and properties in Westgate-on-Sea are up 100% over the past 10 years (£154,686 vs £308,764).

When looking at growth in 2022 compared to the prior year, house prices in Yarmouth on the Isle of Wight grew the most – up 53% on average – to £611,816 (from £399,206 in 2021). House buyers in Aldeburgh, Suffolk need an average £794,492 (up 47% in 2022, from £539,882 in 2021) and those looking for a property in Campbeltown saw prices increase by 42% during last year, to £129,348 (from £91,201 in 2021).

Kim Kinnaird, Mortgages Director, Halifax said: “For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits. But this comes at a price in many locations and Britain’s most expensive seaside spot, Salcombe in Devon, will set buyers back over £1.2 million on average.

“When we delve deeper into the cost of Britain’s seaside homes, it’s clear that there is a broad spectrum in house prices. Whilst million-pound properties are abundant in the South West of England, in contrast, homes in Greenock in Scotland are valued on average at less than £100,000.

“Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations. While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play. Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore.”

Map: Britain’s most expensive seaside locations

 

Map of Britain with most expensive seaside towns listed in table

 


Table 1: Britain’s most expensive seaside locations

Seaside location Region Average house price 2022
Salcombe South West £1,244,025
Sandbanks South West £952,692
Aldeburgh East of England £794,492
Padstow South West £790,847
Lymington South East £663,474
Yarmouth South East £611,816
Dartmouth South West £567,985
Kingsbridge South West £556,659
Wadebridge South West £548,669
Budleigh Salterton South West £537,681

Source: Land Registry house price data 12 months to December 2022

Table 2: Britain’s least expensive seaside locations

Seaside location Average House Price 2021 (£s) Average House Price 2022 (£s)
Greenock Scotland £97,608
Girvan Scotland £105,410
Millport Scotland £111,381
Invergordon Scotland £114,962
Saltcoats Scotland £116,414
Newbiggin-by-the-Sea North East £117,663
Stranraer Scotland £117,884
Wick Scotland £124,857
Thurso Scotland £126,716
Campbeltown Scotland £129,348

Sources: Land Registry (E&W) and ROS (Scotland) - house price data 12 months to Dec 2022

Table 3: 20 biggest house price increases in seaside locations 2021 vs 2022

Seaside location Region Average house price 2021 Average house price 2022 1-year change
Yarmouth South East £399,206 £611,816 53%
Aldeburgh East of England £539,882 £794,492 47%
Campbeltown Scotland £91,201 £129,348 42%
Padstow South West £562,802 £790,847 41%
Salcombe South West £934,370 £1,244,025 33%
Seaview South East £413,291 £530,656 28%
Port Bannatyne Scotland £111,717 £142,732 28%
Ardrossan Scotland £104,990 £133,253 27%
Watchet South West £248,893 £312,197 25%
Irvine Scotland £111,742 £139,795 25%
Wadebridge South West £442,862 £548,669 24%
Rothesay Scotland £117,041 £144,857 24%
Lossiemouth Scotland £161,039 £197,364 23%
Kirkcudbright Scotland £188,089 £230,126 22%
Inverkip Scotland £188,832 £230,650 22%
Tenby Wales £281,633 £338,699 20%
Kingsbridge South West £464,548 £556,659 20%
Annan Scotland £116,977 £140,167 20%
Pwllheli Wales £311,836 £373,482 20%
Arbroath Scotland £127,794 £152,969 20%
All GB seaside locations £292,842 £304,460 4%

Sources: Land Registry (E&W) and ROS (Scotland) - house price data 12 months to December 2021 and 2022

Tables 4: 20 biggest house price increases in seaside locations 2012 vs 2022

Seaside location Region Average house price 2012 Average house price 2022 10-year change
Salcombe South West £558,538 £1,244,025 123%
Margate South East £146,276 £305,191 109%
Westgate-On-Sea South East £154,686 £308,764 100%
Birchington South East £194,958 £386,040 98%
Aldeburgh East of England £402,128 £794,492 98%
Deal South East £198,558 £391,325 97%
Ramsgate South East £156,306 £307,737 97%
Yarmouth South East £311,112 £611,816 97%
Whitstable South East £247,949 £483,692 95%
Padstow South West £407,117 £790,847 94%
Burnham-On-Crouch East of England £215,737 £418,609 94%
Broadstairs South East £225,674 £431,641 91%
Chapel St Leonards East Midlands £124,666 £237,635 91%
Norwich East of England £209,593 £398,993 90%
Mundesley/Walcott East of England £209,593 £398,993 90%
Watchet South West £164,998 £312,197 89%
Lymington South East £350,846 £663,474 89%
Hastings South East £188,542 £355,898 89%
Romney Marsh South East £189,617 £355,731 88%
Felixstowe East of England £179,388 £336,220 87%
All GB seaside locations £195,509 £304,460 56%

Sources: Land Registry (E&W) and ROS (Scotland) - house price data 12 months to December 2012 and 2022

Download full press release (PDF 0.3MB) PDF opens in a new tab

Search for press releases by year
 

2024 press releases