Porthmadog tops price rise list

Updated: 
Seaside towns in Wales and Northern England have seen a faster rise in house prices than those in the South over the last decade, a report has found.

Nestled next to the Snowdonia National Park, Porthmadog in North Wales was named by Halifax as the seaside town with the biggest percentage increase in house prices since 2003.

Porthmadog, which is also home to the historic Ffestiniog Railway, has seen a 134% uplift in house prices since 2003, taking them to around £162,638.

Seaham, with its dramatic cliff-top coastline, and Newbiggin-by-the-Sea which has had its beach revamped in recent years, came in second and third places respectively. Both these coastal towns are in the North East and have seen house prices more than double over the last decade.

The only seaside towns in the South to make it onto the "top 10" fastest rising house prices list were St Mawes and Perranporth, which are both in Cornwall.

The coastal towns at the top of the list tend to have seen prices rising sharply from a relatively low base.

Despite seeing a 120% uplift in prices over the last decade, Newbiggin-by-the-Sea was still found to have the cheapest house prices in the survey, averaging just over £81,000 now.

Meanwhile, St Mawes managed to record one of the fastest price rises over the last decade and be the 5th most expensive seaside town in the study.

Seven houses could be snapped up in Newbiggin for the price of one in Salcombe, which sits in an Area of Outstanding Natural Beauty in Devon and was named as the country's most expensive seaside town, with average house prices there standing at over £570,000. Glitzy Sandbanks in Dorset, which has previously been dubbed "Britain's Monte Carlo" was the second most expensive, with typical house prices topping £522,000.

All the top 10 most expensive seaside towns were found to be on the South coast. Outside the South, the most expensive seaside town was Catherine Zeta-Jones's home town of Mumbles, South Wales, where average prices stand at £266,891.

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