Dreaming of lapping waves and walks along the prom? These coastal towns might be worth the investment…
It’s a known fact that relocating to the seaside can be costly, especially if your favourite coastal town happens to be in the south of England. However moving to the coast could actually be a good investment.
During the last 10 years, the average house price in Britain’s seaside towns has increased by 25%, from £181,060 in 2007 to £226,916 in 2017, according to an annual study by Halifax. This equates to an average increase of £4,585 per year, so buying a house by the beach could be money well spent.
Scottish seaside towns have seen the greatest average house price growth in the last 10 years, with Fraserburgh topping the list with house prices almost doubling in the past decade.
These are the seaside towns with the biggest house price increases over the last 10 years, with the current average house price and the percentage increase:
1. Fraserburgh, Scotland, £136,889, 95%
2. Lerwick, Scotland, £160,689, 77%
3. Shoreham-by-Sea, South East, £373,056, 70%
4. Aldeburgh, East Anglia, £526,689, 67%
5. Inverbervie, Scotland, £201,837, 62%
6. Whitstable, South East, £347,680, 59%
7. Brighton, South East, £374,622, 59%
8. Leigh-on-Sea, South East, £337,503, 53%
9. Macduff, Scotland, £130,804, 53%
10. Sandwich, South East, £334,177, 51%
‘Seaside towns are extremely popular places to live, offering sought-after views and desirable weather. Being by the seaside does come at a price –with the marked increase in house prices reflecting the demand for rooms with a ‘sea’ view,’ says Martin Ellis, Halifax housing economist.
‘Over the past decade, house prices in the South East, especially coastal towns within commutable distance to London, have shown strong growth and have become Britain’s most expensive seaside towns.’
‘However, the strongest performing coastal towns in terms of growth have been north of the border in Scotland, where property prices on the Aberdeenshire coastline have been helped by the oil industry more than the sunshine.’
Video Of The Week
Video Of The Week
If you would like to be beside the seaside, you may want to consider focusing your search on Scotland. The Scottish shores not only fill four of the top spots for the biggest house price increase, but they are also home to nine out of ten of Britain’s least expensive coastal towns.
A one-way ticket to Scotland please!