The average price of a property in a British seaside town is now Â£ 265,978, a 10% jump – or over Â£ 24,000 – in just 12 months, according to the Halifax.
Salcombe, Devon, is Britain’s most expensive seaside town, with an average price of Â£ 950,325. Sandbanks in Poole is second on the list with Â£ 835,971.
St Mawes, Cornwall saw the biggest increase in average prices of any seaside town in the past year, rising from a remarkable 48 percent from Â£ 339,912 to Â£ 501,638.
Scotland tops the list of Britain’s cheapest seaside towns – with Millport, on the Isle of Cumbrae, offering the most affordable properties at an average of just Â£ 74,148.
Over the past 10 years, the average price of accommodation in UK seaside towns has increased by 36%, from an average of Â£ 194,932 in 2011 to Â£ 265,978 in 2021.
Padstow in Cornwall – famous for Rick Stein’s restaurant empire – has seen the biggest average price increase of any seaside town in the past decade, from over a quarter of a million pounds to from Â£ 351,458 to Â£ 616,368.
âThe housing market has seen dramatic changes over the past year, brought on by the impact of the pandemic. But one thing that remains constant is the British love for the seaside, âsays Halifax Managing Director Russell Galley.
âProperties in these towns have always been in high demand – with residents enjoying the scenic scenery and coastal lifestyle – which means a great price premium in the most desirable locations.
âWhile many people are reassessing their work and lifestyle priorities, the Southwest has attracted those who are drawn to life by the waterâ¦ However, more affordable options exist for those who wish. moving further north, with many towns on the Scottish coast offering excellent value for money. “