Salcombe is Britain’s most expensive seaside town
House prices in seaside towns have risen by a third during the past 10 years, with the average price growing £49,207 to reach £208,729 today.
However, a north-south split has emerged with all of the biggest price increases located in the south of England. Seven of these were located in the South West.
Salcombe had higher prices than anywhere else (£672,874) while Sandbanks in Dorset also had average prices of £614,726.
Outside the South West, the most expensive seaside towns are Aldeburgh in Suffolk which had an average price of £413,393. Lymington in the New Forest (£404,781), and East Wittering in West Sussex (£330,146) also featured.
In percentage terms the highest price rises were in Scotland. Fraserburgh in Aberdeenshire recorded a 109% increase in property values from £63,540 in 2005 to £132,920 in 2015. Lerwick in the Shetlands and Peterhead in Aberdeenshire saw the next largest rises – both at 102%.
Port Bannatyne on the Isle of Bute was judged to be the least expensive seaside town in the country, with an average property price of £73,539.
Craig McKinlay, mortgages director at Halifax, said seaside towns appealed to mat people.
“Seaside towns have a distinct attraction, offering that all important sea view with a typically high quality of life in a healthy environment,” he said.
“There is a romance associated with living by the sea and this is evident in the high house prices seen in many of these areas.
“Some of the most expensive seaside towns in Britain are dotted along the southern England coastline while many of the least expensive are in the north, particularly in Scotland.
“Despite a clear north-south divide in property prices among seaside towns, the rapid price growth in many Scottish seaside towns over the last 10 years suggests the popularity of coastal living has spread out across the whole country. Of course, the boom in the Scottish oil sector during the period also provided a boost to house prices, particularly in several towns along the Aberdeenshire coastline.”