Cost of a UK home by the sea soars by more than £22,000
Halifax said the average price of a British seaside property rose 8% to £287,087 last year.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The average price of a home by the sea has jumped by more than £22,000, with coastal property values boosted by the switch to home working during the pandemic, according to a report.
Lending giant Halifax said the average value of a British seaside property rose to £287,087 last year, up 8% or £22,082 from 2020.
Sandbanks in Dorset was the most expensive seaside town, with average prices surging 10% year-on-year to £929,187, the analysis of Land Registry house price data showed.
It was followed by Salcombe in Devon in second place, down from pole position in 2020, with a typical property costing £912,599, as the South West dominated the ranking.
Homes on the coast have long attracted a premium price, and this was no different in 2021, with the move towards working from home being an ongoing influence on where people choose to live
Last year’s price gains mean properties by the sea have soared by 50% or £95,599 over the past decade, with a 27% leap in the past five years.
Many Britons have looked to buy in more remote locations and move away from cities in the past two years as the pandemic saw a shift towards working from home.
Russell Galley, managing director of Halifax, said: “Our ongoing love affair with living by the sea shows few signs of abating.
“Homes on the coast have long attracted a premium price, and this was no different in 2021, with the move towards working from home being an ongoing influence on where people choose to live.
“Whether it’s a lifestyle sought, the scenery or the sea air, when it comes to buying homes, we really do love to be beside the seaside.”
Millport, on the Isle of Cumbrae in North Ayrshire, Scotland – the study’s least expensive seaside town in 2020 – has seen the biggest increase in average prices of any coastal town over the past year, up by more than half (53%) from £74,148 to £113,292.
But Scotland also features throughout the list of Britain’s cheapest seaside towns, with Campbeltown in Argyll and Bute offering the most affordable properties at an average of just £91,201.
Over the past decade, Margate in the South East has seen the biggest average price rise of any seaside town, with prices jumping by 98% or £139,814, from £142,920 to £282,734.
Here are Britain’s most expensive seaside towns according to Halifax, with the average house price:
1. Sandbanks, Dorset, South West, £929,1872. Salcombe, Devon, South West, £912,5993. Padstow, Cornwall, South West, £588,0904. Lymington, Hampshire, South West, £565,7905. Aldeburgh, Suffolk, East Anglia, £515,4446. Fowey, Cornwall, South West, £491,0427. Dartmouth, Devon, South West, £485,7608. Lyme Regis, Dorset, South West, £473,8619. East Wittering, West Sussex, South East, £472,36410. Kingsbridge, Devon, South West, £464,858
Here are Britain’s least expensive seaside towns according to Halifax, with the average house price:
1. Campbeltown, Argyll and Bute, Scotland, £91,2012. Girvan, South Ayrshire, Scotland, £101,6763. Greenock, Inverclyde, Scotland, £103,4964. Ardrossan, North Ayrshire, Scotland, £104,9905. Saltcoats, North Ayrshire, Scotland, £105,5056. Wick, Highland, Scotland, £105,6867. Newbiggin-by-the-Sea, Northumberland, North, £108,9578. Port Bannatyne, Isle of Bute, Firth of Clyde, Scotland, £111,7179. Irvine, North Ayrshire, Scotland, £111,74210. Millport, North Ayrshire, Scotland, £113,292