Property Prices in UK seaside towns almost double in a decade
Average house prices in seaside towns in the UK have increased by £500 per month since 2004 and five have seen prices more than double, according to new research from the Halifax.
The average rise of 42% over the last decade has taken the price in seaside locations to £196,826 with the most expensive in Salcombe and Sandbanks in the south west of England.
In Salcombe in Devon, an area of outstanding natural beauty, average prices increased to £615,344 and Sandbanks in Dorset they reached £574,089, making them the two most expensive seaside towns to buy in.
The research also shows that five seaside towns in Scotland have recorded at least a doubling in house price since 2004, which are all on the Aberdeenshire coast.
South of the border, Aldeburgh, on the Suffolk coast line, has seen the best house performance among seaside towns with average property values doubling at 95% in the decade to £446,576. Other English seaside towns in the top 10 for average price increases are Wadebridge in north Cornwall and Workington in Cumbria, both at 91%.
The average house price in a seaside town now stands at £196,826, this means that buying beside the seaside is still cheaper than compared to the average housing price across Great Britain which is £239,518.