Dreaming of moving to the coast, look north for the best bargains

A DORSET location has been knocked off the top of a list of the UK’s most expensive seaside hotspots.

Sandbanks, in Poole, was previously the most expensive area when buying a seaside house in the UK.

However, the latest figures from the Halifax Seaside Town Review show it has been bumped off the top by Salcombe.

Homes in the Devon town cost an average of more than £1.2 million, with Sandbanks reaching £952,692, according to the data.

Aldeburgh, in Suffolk, makes up the top three with an average price tag of £794,492.

Across the UK, the average cost of a seaside home more than doubled between 2012 and 2022, rising by 56%.

In Salcombe, the increase was 123% (from £558,538 to £1,244,025).

At the other end of the spectrum, the cheapest seaside homes are available in Greenock, Scotland, where properties cost an average of £97,608.

Nine of the top 10 cheapest locations are in Scotland, with only Newbiggin-by-the-Sea, in the north east of England, making the list from elsewhere.

Looking at growth, Yarmouth, on the Isle of Wight, showed the largest increase in 2022 compared to the previous year, with prices rising 53% to £611,816.

Kim Kinnaird, mortgages director at 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.

“While 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.”

The top 10 priciest seaside locations:
● Salcombe, Devon: £1,244,025
● Sandbanks, Dorset: £952,692
● Aldeburgh, Suffolk: £794,492
● Padstow, Cornwall: £790,847
● Lymington, Hampshire: £663,474
● Yarmouth, Isle of Wight: £611,816
● Dartmouth, Devon: £567,985
● Kingsbridge, Devon: £556,659
● Wadebridge, Cornwall: £548,669
● Budleigh Salterton, Devon: £537,681.

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