Oh, we do like to be beside the seaside! Oh we do like to be beside the sea! But we might not be able to afford a property with a sea view, as homes in British seaside towns have shot skywards over the past decade, according to new research from Halifax.
Prices of property in towns such as Brighton have seen rises as big as 59%, with property costs shooting up from an average of £214,863 to £341,235 over the decade. Overall, prices of towns on the coast have seen a 32% rise during the past ten years, with prices increasing from £166,565 in 2006 to £219,386 in 2016 - equating to an average rise of £440 per month!
The top five house price increases in England were found to be in:
- Brighton- 59%
- Whitstable- 53%
- Shoreham on Sea- 53%
- Leigh on Sea- 52%
- Truro- 50%
Eight of the ten most expensive seaside towns in the UK are located in the South-West, withSandbanks in Poole topping the list, with average house pricing standing at an eye-watering £664,655!
The top five most expensive seaside towns were located in:
- Sandbanks- £664,655
- Padstow- £443,396
- Aldeburgh- £439,379
- Lymington- £426,112
- Dartmouth- £401,361
However, it is not English seaside towns that have seen the greatest rise. The research has revealed that Scottish coats have actually seen the most substantial price growth,
Fraserburgh saw the most substantial house price growth, with rises of 139% in the last decade. Prices in the region have grown from £63,540 in 2006 to £151,719 in 2016, equivalent to a monthly rise of £735.
The top five house value increases in Scotland were located in:
- Fraserburgh- 139%
- Macduff- 102%
- Peterhead- 95%
- Cove Boy- 94%
- Newtonhill- 91%
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