Property prices prosper in UK coastal resorts
Brits really do like to live by the sea, so much so that they are prepared to pay a high premium for the pleasure of living close to the briny.
Research from one of the UK’s leading mortgage lenders, the Halifax, shows that during the last decade, average house prices in coastal towns around England and Wales increased by a colossal 97 per cent.
The report tracks house prices, as recorded by the Land Registry, since 2002 and covers more than 135 seaside towns up and down the country. The largest price rise goes to the beautiful North Eastern resort of Seaham, in County Durham, where the average house price has increased by an incredible 180 per cent.
UK property owners living in southern coastal towns own some of the most expensive property throughout the UK property market. Top of the list is Salcombe in Devon with an average house price of £528,900 closely followed by Sandbanks in Dorset at £525,900 at the other end of the scale the cheapest seaside home can be bought for just £75,000 at Newbiggin-by-the-Sea in Northumberland.