The UK’s 10 best coastal property locations
This week we feature a guest post from freelance writer Patrick Vernon on the top ten coastal property locations as revealed in Halifax’s annual review.
Sandbanks in Dorset has earned the moniker of Britain’s most expensive seaside town, cementing its reputation as the nation’s premier coastal spot. This small peninsula of land – once dubbed a ‘millionaire’s playground’ by the Mail for its close concentration of expensive homes – came top in Halifax’s annual Seaside Town Review. Average house prices in Sandbanks are £665,000. That puts it above Salcombe in Devon, which was last year’s most expensive town and now sits second in the list.
Britain’s top ten most expensive seaside towns is dominated by places in the south west of England.
- Sandbanks, Dorset: £664,655
- Salcombe, Devon: £539,950
- Padstow, Cornwall: £443,396
- Aldeburgh, Suffolk: £439,379
- Lymington, Hampshire: £426,112
- Dartmouth, Devon: £401,361
- Fowey, Cornwall: £379,003
- St Mawes, Cornwall: £373,746
- Wadebridge, Cornwall: £373,351
- Budleigh Salterton, Devon: £360,984
Why are they so popular?
Brits do love to be beside the seaside. The fresh air, beach and relaxation of life on the coast is still attractive and even the funfairs, arcades, ice cream and donkey rides of coastal resorts retain their quintessential charm.
That all makes them attractive for retirees as well as those looking for a second home to act as a holiday retreat when they need to ‘get away from it all’.
Martin Ellis, a housing economist at Halifax, said: “Seaside towns are highly popular places to live, offering sought-after scenery, weather and lifestyle which no doubt come at a price. They also attract those looking for holiday properties, which add upward pressure on house prices.”
That the Halifax list is so dominated by the south west of England reflects the quality of the properties in the region. This is an area capable of sitting alongside the very best homes listed at the likes of http://propertylistings.ft.com/ and not looking out of place.
Which other seaside towns have proven attractive?
The enduring appeal of a life by the sea is certainly not confined to the south west. Being an island nation, most people don’t have to travel too far to enjoy the sea air and that helps keep communities up and down the UK wedded to the coastal property dream.
The very same Halifax report quoted above shows that, at the other end of the price spectrum, many places in Scotland have experienced huge above-inflation growth in the past decade. The most extreme case is Fraserburgh in Aberdeenshire, which has seen 139 per cent growth in the past ten years.
The Guardian also reported how the seaside town of Margate had the hottest property market outside of London in 2015, with prices jumping about a quarter during the year according to Rightmove.
Meanwhile, a separate study by Savills also showed something of a boom in the Welsh seaside resort of Rhyl, with prices rising by a fifth in a decade.
Plot Rhyl, Margate, Fraserburgh and Sandbanks on a map and you’ll see that the UK is littered with seaside property success stories right across its coastline. Each is distinct but all tap into the romantic power to be extracted from the seaside. The ones that do it with the best quality homes and offer the best picture postcard lifestyle, have made a name for themselves as top locations. The challenge is now laid down for other resorts and towns to try to adapt and apply the formula to benefit from their own boom.
Patrick Vernon is a freelance writer, specialising in business and finance related content. Patrick has gained experience writing for a variety of magazines and websites, researching the latest money making tips and offering his advice to the public.