The cost of waterfront homes

The cost of waterfront homes

Waterside property search is on the increase : find out what's happening to house prices

SEASIDE towns in the two southern corners of Britain also occupy the extreme ends of the property spectrum, from the crumbling resorts of Kent to the smart marinas of Cornwall.

House prices in coastal towns often do not reflect those inland. According to the Halifax, the average property price last month in 24 seaside towns was at least 20 per cent higher than the county average. The South West accounts for nine of the ten most expensive seaside towns in the UK. Sandbanks, near Poole, where the average house costs £488,761, is 106 per cent more expensive than the Dorset average.

In Wales, the most expensive coastal resort is Mumbles, where property prices are at a 92 per cent premium to the area. In Scotland, St Andrews has an average price of £223,894, 86 per cent higher than the rest of Fife.  “Waterside property is becoming ever increasingly popular,” says Joe Nisbet of ElitePropertySearch.com. “As summer approaches the number of people searching our site for seaside properties soars. For many, seaside towns provide the perfect city escape.”

Bargain-hunters should look to the South East, where prices in seven coastal towns are at least 20 per cent lower than the county average. In Margate, the average property, at £155,084, represents a 30 per cent discount on Kent prices, and in Dover houses are 29 per cent cheaper than elsewhere in the county.

July 5, 2007

Lucy Alexander

UK Property News archive