Quantcast
Menu
Save, make, understand money

Buy To Let

Revealed: the most expensive seaside town in Britain

Joanna Faith
Written By:
Joanna Faith
Posted:
Updated:
31/05/2016

Sandbanks in Poole is the most expensive seaside town in Britain, with average property prices of £664,655, according to research from Halifax.

The town has knocked Salcombe off the top spot, a position the town, which is in the South Devon Area of Outstanding Natural Beauty – has enjoyed since 2010.

Rising prices

The lender said that average house prices in British seaside towns increased by £440 a month over the past decade, from £166,565 in 2006 to £219,386 in 2016, equating to an average increase of 32%.

Scottish seaside towns saw the greatest price growth, with seven of the top 10 located in Aberdeenshire, which for much of the period has experienced growth in the oil and gas sector.

Fraserburgh 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.

In Macduff, average property prices doubled from £66,226 to £133,567 (102%), followed by Peterhead (95%), Cove Bay (94%) and Newtonhill (91%).

Brighton recorded the greatest increase in value outside of Scotland (59%), jumping from £214,863 to £341,235 over the decade.

Costly down South

Despite the growth of property values in Scottish seaside towns over the past 10 years, nine of the 10 most expensive seaside towns in Britain are on the South coast – with eight in the South West.

Other most expensive seaside towns located in the South West include Padstow (£443,396), Dartmouth (£401,361) and Fowey (£379,003). Aldeburgh in Suffolk (£439,379) and Lymington in Hampshire (£426,112) are the most expensive seaside towns outside the South West.

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.”