If you are looking to purchase a property in a seaside town, you should know that the prices of properties by the sea have significantly increased as compared to inland homes. According to the Halifax Estate Agency, the price of seaside houses has increased by 97% over the last ten years, while a 95% increase has been registered foe the whole of England and Wales. This increase may be due to the end of the stamp duty holiday on lowered priced properties. Another reason behind this increase may be the fact that the real estate market is starting to recover. Furthermore, the idea of owning a home by the sea is very appealing for numerous people. It is also very advantageous, since seaside homeowners get to spend a nice holiday whenever they want to, without having to worry about accommodation costs.
The most expensive seaside homes in the UK are located in the South of England and the most expensive seaside towns are located on the south coast. The seaside town with the biggest increase is Seaham, County Durham, with an average property price growth of over 180% from 2002 to 2012 (from £38,443 to £108,742). Next on the list of biggest increases are Wadebridge and Padstow, Cornish. The former registered an average price increase of 173%, while the latter comes close with an increase of 171% over the last decade. The seaside town of Salcombe, Devon, tops them all, though. Salcombe tops the list, with an average house price of £528,920. Sandbanks, Dorset, is another expensive seaside town, with an average house price of £488,761. More inexpensive seaside properties can be found at the bottom of the list, with an average property price of £104,747 in Blackpool, Lancashire, and £75,000 in Newbiggin-by-the-Sea, Northumberland.
As you can see, good value properties can also be found in some seaside towns, particularly in the South East, Yorkshire and Humber regions. According to a survey made by the Helifax Estate Agency, the top 3 seaside towns in the UK are Christchurch (Dorset), Leigh-on-Sea (Essex), and Bexhill-On-Sea (Sussex). These seaside downs have an excellent quality of life and have been voted as the best places in the UK to purchase a property by the sea. Regardless of the seaside town, the prices of properties are well above the average for their county. Housing economist Martin Ellis noted that seaside houses in most towns by the sea have an average price that is higher than the surrounding area.