Sandbanks in Poole, Dorset, has been named the most expensive seaside area to buy a home in Britain. The average price for a home in Sandbanks is nearly £1.6 million, making it the priciest coastal location out of over 200 areas analyzed by Rightmove. On the other end of the spectrum, Saltcoats in Ayrshire, Scotland, was identified as the least expensive seaside location with an average property asking price of £114,365.
The study also highlighted other affordable seaside areas, such as Easington and Peterlee in County Durham, where the average asking prices were £122,520 and £124,593 respectively. Rightmove noted a 15% increase in average asking prices in Peterlee compared to the previous year, making it a “price hotspot.”
In addition to Peterlee, Heysham in Lancashire was also identified as a price hotspot, with asking prices up by 7% annually. The appeal of coastal living seems to remain strong, with many people considering a home by the sea as a getaway from city life, especially during the summer months.
The top 10 most expensive seaside areas, according to Rightmove, include Sandbanks, Canford Cliffs, Milford On Sea, and Padstow, with average asking prices ranging from £1.6 million to £495,009. On the other hand, the 10 least expensive areas feature locations like Ashington, Bootle, Grimsby, and Hartlepool, with average asking prices ranging from £114,365 to £146,674.
Property experts like Tim Bannister from Rightmove and Nathan Emerson from Propertymark emphasized the enduring popularity of coastal areas and the increasing property values in these locations. While homeowners may benefit from the rising prices, locals who have grown up in these areas may find it challenging to afford homes as prices continue to climb.
Steve Isaacs, director at Luxury and Prestige Realty in Poole, highlighted the ongoing popularity of Sandbanks and Canford Cliffs, noting the appeal of living in a beautiful seaside location. The allure of a seaside lifestyle is undeniable for many, even as property prices soar.
Overall, the ranking of the most and least expensive seaside house buying locations sheds light on the diverse real estate market across Britain’s coastal areas. From luxury waterfront properties to more affordable seaside homes, there is a range of options available for those looking to make a move to the coast.
