The last year has seen many of us dreaming of swapping city life for a location near to the sea, with homeowners grabbing the bull by the horns and making the move. It is unsurprising given that commutes have been swapped for WFH and home office ideas, making it easier than ever to swap the city for the coast without travel to consider.
Online estate agents Rightmove has reported a surge in demand for homes in coastal locations, revealing the most in-demand coastal locations in Britain this year.
The report found that properties are being snapped up much more quickly – and selling 20 days quicker than in 2019! That’s not the only thing that’s been affected either – the asking price for a coastal home is now 7% higher than it was two years ago and is growing a lot more quickly than those in cities.
So, if you were asked to guess, where would you say the most in-demand coastal locations in Britain are? Rightmove reports Dartmouth in Devon is the most popular place in online searches. The area saw a 117 per cent increase in homebuyer interest compared to 2019.
Dartmouth was followed by Salcombe, also in Devon. The seaside town is not only famous for its crab festival, but also for being the most expensive seaside town in the country.
In Salcombe, the average house price in 2021 stood at £950,325. According to data by Rightmove that is more than three times the average price of a property in a British seaside town, which stands at £272,165. However, the price hasn’t put homebuyers off as buyer interest in the town has increased by 112 per cent since 2019.
Fowey in Cornwall came in third place, racking up a 111 per cent increase in interest among home buyers.
However, when it came to the sharpest rise in asking prices Helensburgh in Dunbartonshire took the crown. The coastal area saw a price rise of 27 per cent compared to 2019. Helensburgh was closely followed by Padstow in Cornwall and Gourock in Renfrewshire.
If you’re ready to make the move yourself or are looking at buying a holiday home to retreat to when you get the chance, here are two coastal properties that are up for sale right now.
Like much of the housing market frenzy, the spike in interest and prices is partially due to the stamp duty holiday. But, even so, for those looking to make a home on the coast, you’ll need to act fast as you’ve got competition.