Hotspots beside the sea where house prices are soaring
BRITAIN’S love affair with the seaside has added £ 410 a month for a decade to the price of homes on the coast.
This increase has seen Salcombe in Devon, where a house costs an average £ 672,874, being named as the most expensive waterfront town to buy a property in.
At the other end of the price range, Port Bannatyne in Scotland is the cheapest at £ 73,539, according to a survey of 196 seaside towns by the Halifax bank.
In fact, eight of the 10 least expensive coastal areas were found to be north of the border.
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In England, Newbiggin by the Sea, in Northumberland, was found to be the least expensive with an average price of £ 81,339.
All the top 10 most expensive seafront towns are in southern England.
Sandbanks in Dorset, a haven for celebrities, is the country’s second most expensive at an average £ 614,726.
Over the last 10 years, the average seaside house price has increased by almost one- third ( 31 per cent) to £ 208,729.
This is equivalent to £ 410 a month added to their value over the last decade.
The biggest hikes have been in Scotland. And outside southern England the most expensive areas with views of the sea are also in Scotland. The average house price in St Andrews, for example, is £ 294,586.
Properties bordering the Gower Peninsula in Mumbles, south Wales, are also among the dearest outside southern England, at an average £ 271,349.
Craig McKinlay, mort- gages director at Halifax, said: “There is a romance associated with living by the sea and this is evident in the high house prices.
“Some of the most expensive seaside towns in Britain are dotted along the southern England coastline while many of the least expensive are in the north, particularly in Scotland.
“Despite a clear northsouth divide in property prices among seaside towns, the rapid price growth in many Scottish seaside towns over the last 10 years suggests the popularity of coastal living has spread out across the whole country.”
The research used fi gures from the Land Registry and the Registers of Scotland.
BRITONS really do love to be beside the seaside, according to research that shows average property prices rocketing in coastal towns. Anybody who has managed to snap up a beachfront home is riding the crest of a wave right now.