With summer just around the corner, it’s not just the beach appeal that makes the UK coastline an attractive proposition, with about 950,000 to take us to the waves in a yacht or a motor boat.
When it comes to hobbies, it’s not the most affordable, even with a modest ship requiring a five-figure annual budgets once the cost of a berth, maintenance and operating costs have been recorded. The good news, at least, is that finding the home buying platform, Yes Acquirers, found that some sailing hotspots offer a good deal when it comes to real estate prices.
Homebuyers looked at house prices in 20 regions with some of the best marinas in the country and found that the average cost of homeownership currently stands at £ 256,405, with house prices up 9 , 3% last year.
The most affordable marina hot spots
Hull is not only the most affordable with an average house price of £ 120,837, but the area is also -36% cheaper than the wider cost of ownership in Yorkshire and the Humber.
In terms of average property prices, Belfast also ranks among the most affordable at £ 142,934, with Argyll and Bute (£ 160,359), Allerdale (£ 160,403), Gwynedd (£ 176,185), North Tyneside (177,317 £), Scarborough (£ 179,836), the Shetlands (£ 184,935), Plymouth (£ 194,157) and the Isle of Wight (£ 253,711) are also home to some of the lowest average house prices.
Most affordable compared to the wider region
Plymouth (-33%), Isle of Wight (-27%) and Allerdale (-13%) are also among the most affordable compared to the wider average property price in the region, as are Southend, North Norfolk and East Suffolk (-11%).
The least affordable marina hot spots
Tower Hamlets, home to St Katharine’s Docks, is the least affordable overall with an average house price of £ 496,247. Brighton and Hove is also one of the more expensive sailing hotspots when it comes to property prices at £ 405,451, as is Lymington (£ 373,274).
Least affordable compared to the wider region
While North Tyneside ranks among the most affordable when it comes to average property prices, it is actually home to the highest cost compared to the wider region, 22% more expensive than the average price of real estate. houses in the Northeast.
The cost of a house is also higher in Devon (21%), Brighton (16%), Shetlands (11%), Dorset (10%), New Forest (7%) and Bournemouth, Christchurch and Poole (7%) compared to the average price in the greater region.
Matthew Cooper, Founder and CEO of Yes Buyers, commented : “Owning a yacht or motorboat is a huge investment and so living close to your berth means more time on the water to justify that cost while doing what you love. As a result, this can often be a hugely influential factor during the home buying process in the same way that a good school or transportation link could be.
While a waterfront property always comes at a price, choosing to live in a larger area means a more affordable property price without sacrificing that important boating time. The good news is that areas with some of the best marinas in the UK can offer a good level of housing affordability, which comes in handy given that the cost of housing and operating a boat can be high.
The other advantage is that although many successful coastal trips often require good weather, a little rain and wind can create good sailing conditions. So when the UK weather isn’t right, you’re less likely to be disappointed.