Average House Prices in Seaside Towns Have Gone up £53,000 in the Last 10 Years
House prices in Britain’s seaside towns have increased by £52,821 over the last decade, new research has revealed.
According to Halifax, average house prices in seaside towns have gone up by 32% in the last 10 years from £166,565 in 2006 to £219,386 in 2016.
Fraserburgh in Scotland has seen the greatest house price growth with a rise of 139%, from £63,540 in 2006 to £151,719 in 2016, equivalent to a monthly increase of £735.
Scottish seaside towns dominate the list of areas with the greatest price growth, with seven of the top 10 located in Aberdeenshire, which for much of the period has been well served by growth in the oil and gas sector.
Outside of Scotland, Brighton recorded the greatest increase of 59%, jumping from £214,863 to £341,235 over the decade. Other seaside towns in England with the best price performance include Whitstable in Kent (53%), Shoreham on Sea in West Sussex (53%), Leigh on Sea in Essex (52%) and Truro in Cornwall (50%).
The most expensive seaside town is Sandbanks in Poole, where the average house price is £664,655. The only other seaside town with house prices above the half a million mark is Salcombe in South Devon at £539,950.
The cheapest place to get a property is Port Bannatyne Scotland where the price of an average property will set you back £77,132.
Martin Ellis, housing economist at 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.”
