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Editor's Pick

Most affordable seaside spots revealed

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
17/06/2020

If you want to buy beside the seaside, take a look at the cheapest and most expensive places to purchase property

The average price of buying a home in a seaside town is £264,528, 14% higher than the current national average of £232,401, according to GetAgent.com.

The estate agent comparison site said the most expensive seaside spot is Sandbanks in Poole, where the average property price is £619,431.

The property hotspot is followed by Salcombe (£602,667), Aldeburgh (£507,143), Lymington (£482,071), Dartmouth (£458,051), Southwold (£447,855), Padstow (£433,812), Lyme Regis (£425,238), Bigbury on Sea (£416,965) and Hayling Island (£400,678) in the top 10 least affordable seaside property pockets.

Most affordable homes by the sea

Scotland accounts for 15 of the 20 and eight of the top 10 most affordable seaside towns. Campbeltown is the cheapest, with an average house price of £71,500, some 69% lower than the UK average.

Outside of Scotland, Blackpool is the most affordable in England and Wales with an average house price of £93,104, along with Newbiggin by the Sea (£99,017).

CEO of GetAgent.co.uk, Colby Short, said: “The house price ripple effect isn’t just confined to the outer boroughs of London and it’s clear that as a number of seaside hotspots have increased in value, smaller neighbouring towns have also seen the benefit of this overspill in demand.

“If you can’t afford to live in Padstow for example, opting for nearby Wadebridge provides the next best option and while it isn’t cheap in itself, it still provides a serious property price discount in the region of fifty thousand pounds. Of course, this heightened demand for these ‘next best’ options will often cause prices to increase and so the downside to this is a reduction in affordability in the long term.”