Seaside Towns See 30pc Increase In Value of Property
Seaside Towns throughout the UK have seen the value of a property increase in price as more people look to Seaside Towns for second homes, holiday lets and a better lifestyle.
The annual Halifax Seaside Town Review showed that on average properties in Seaside Towns had increased by 30pc over a 10-year period.
While the towns on the East Yorkshire coast did not make the top ten, neith did they make the ten worst, some experts have said towns in the region have other advantages for people looking to move to a Seaside Town.
Martin Ellis a housing economist at the Halifax said;
“Seaside towns are highly popular places to live. Offering sought after scenery, weather and lifestyle. Which no doubt come at a price.”
“They also attract those looking for holiday properties, which add upward pressure on house prices, which our research shows have increased by an average of £440 per month since 2006.”
Previous reports into Seaside Living Halifax found that Yorkshire’s Bridlington, Withernsea and Hornsea and Scotland’s Peterhead and Fraserburgh offer a good quality of life and the best value among Britain’s coastal towns.
Housing economist Nitesh Patel said that Yorkshire offered a good location, she said;
“Towns in Yorkshire and Scotland have rated highly on our ‘quality of life’ index and have reasonable prices that are affordable on local incomes.”
“Many seaside towns, particularly in the South West, offer an excellent quality of life but with house prices to match.”
Properties in the Seaside Town of Sandbanks is the Millionaire’s playground of Seaside living in the UK.
Sandbanks came out as the most unaffordable Seaside Town to live, however, is balanced by residents having a high quality of life.
Bexhill-on-Sea in East Sussex tops the list for quality of Life. Bexhill-on-Sea provides residents with four more hours sunshine a week to enjoy the beach life and also has a higher than average employment and earnings, and good health and life expectancy.
The 10 most expensive seaside towns in Britain are:
1 Sandbanks, South West, £664,655
2 Salcombe, South West, £539,950
3 Padstow, South West, £443,396
4 Aldeburgh, East Anglia, £439,379
5 Lymington, South East, £426,112
6 Dartmouth, South West, £401,361
7 Fowey, South West, £379,003
8 St Mawes, South West, £373,746
9 Wadebridge, South West, £373,351
10 Budleigh Salterton, South West, £360,984
The 10 least expensive seaside towns in Britain are:
1 Port Bannatyne, Scotland, £77,132
2 Newbiggin by the Sea, North, £81,259
3 Girvan, Scotland, £91,912
4 Campbeltown, Scotland, £91,938
5 Saltcoats, Scotland, £93,479
6 Stranraer, Scotland, £96,476
7 Invergordon, Scotland, £98,673
8 Millport, Scotland, £98,742
9 Rothesay, Scotland, £99,005
10 Thurso, Scotland, £99,660
