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Investing in seaside holiday hotspots? Expect to pay dearly

A new league table of capital values in seaside locations shows the affordability challenge of investing in areas with guaranteed holiday appeal.

A survey by the Halifax shows that Sandbanks in Dorset is Britain’s most expensive seaside town with average prices of £929,187, up 10 per cent since 2020.

Salcombe in Devon, 2020’s most expensive location, is in second place with an average price of £912,599.

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The South West of England dominates the Top 10 most expensive seaside towns list.

Generally the average British seaside home costs £287,087, up eight per cent.

Last year’s cheapest seaside town, Millport in Scotland, saw the greatest annual price increase, up 53 per cent. Port Bannatyne in Scotland saw the greatest price rise over the last five years, rising 56 per cent to £111,717.

Margate, Kent, saw the greatest 10-year rise, up 98 per cent to £282,734.

 

Halifax managing director Russell Galley says: “Our ongoing love affair with living by the sea shows few signs of abating. Homes on the coast have long attracted a premium price, and this was no different in 2021, with the move towards working from home being an ongoing influence is where people choose to live.

“Whether it’s a lifestyle sought, the scenery or the sea air, when it comes to buying homes; we really do love to be beside the seaside.

“The seaside towns that attract the highest prices overall are dominated by locations across the south coast, with Sandbanks in Dorset taking the title of most expensive seaside town from last year’s winner, Salcombe in Devon. Both towns have average house prices of over £900,000.”

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