Britain’s most exclusive coastal property markets command premiums of up to 89%

House price premiums in Britain’s most exclusive coastal housing markets are sitting as high as 89% when compared to the wider local areas, according to new market analysis from Quickmove Properties.

Related topics:  Property,  Premium,  Coastal
Property | Reporter
25th May 2023
"As an island nation, we love to be beside the seaside, but across the nation’s most desirable coastal locations properties fetch an often hefty price premium due to high demand and limited stock"

Quickmove Properties analysed property prices in 100 of Britain’s favourite seaside towns, looking at how they compare to the wider local authority, before revealing the 32 most exclusive that command a house price premium.

The research shows that, on average, living in one of these 32 exclusive coastal locations will set you back £375,186, 19% more than the average price of purchasing across the wider local authorities these seaside locations are located within.

Top of the table is Devon’s Salcombe, with the average house price in the TQ8 postcode coming in at £739,455, 89% higher than the average cost of a home in South Hams.

The Dorset postcode of BH13, home to the prestigious seaside community of the Sandbanks, is also home to an average house price of £599,547. That’s 71% higher than the wider average of £350,505 found across Bournemouth, Christchurch and Poole.

Padstow ranks third, with homes in the PL28 postcode commanding 62% more in the current market versus the wider Cornwall average, while other locations to make the top 10 include Southwold (56%), Aldeburgh (54%), North Berwick (38%), Porthcawl (34%), Abersoch (26%), Seahouses (24%) and Fowey (24%).

What’s more, while house prices across Britain have increased at a rate of just 5.5% in the last year, many of these exclusive coastal towns have far outperformed that national average. Porthcawl has seen an increase in the average house price of 12.8% over the last year, with Abersoch (+11.3%), Tenby (+10.9%) and Bigbury on Sea (+10.3%) also seeing double-digit rates of growth.

However, there is one affordable route to purchasing a property within Britain’s most exclusive seaside towns. Many of Britain’s best park home developments are largely found across coastal locations and can offer a significantly more affordable pathway to coastal homeownership.

Mark O’Dwyer, Sales Director at Quickmove Properties, commented:

“As an island nation, we love to be beside the seaside, but across the nation’s most desirable coastal locations properties fetch an often hefty price premium due to high demand and limited stock.

"Locations such as Salcombe, the Sandbanks and Padstow are amongst some of the most exclusive and command price tags not dissimilar to popular London neighbourhoods. Even those at the more affordable end of the scale carry a premium when compared to the wider cost of buying in their given locations.

"For most home buyers, this means the prospect of a beach adjacent property is beyond their reach but for those looking to downsize in their later years, there is a more affordable option that allows a coastal lifestyle without compromise.

"Many modern park home developments are sited on former holiday parks, across some of the nation’s best coastal locations. Park home residents often describe the lifestyle as like being on holiday every day! These bungalow-style properties provide a far more affordable option compared to the bricks and mortar market.

"For example, the average cost of a park home sits £80,000 below the price of bricks and mortar home in both Whitstable in Kent and Bude in Cornwall, and £145,000 more affordable in Christchurch, Dorset. All desirable places where Quickmove has park homes for sale.

"So if you want to feel the sand between your toes without spending over the odds, a park home is certainly a worthwhile consideration.”

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