Value of seaside properties in Britain increases by 42 per cent
House prices in seaside towns have risen by £500 per month over the past decade, a new survey has revealed.
The price of a house by the sea has grown by 42 per cent in the past ten years, with the average price now £196,8286, according to Halifax.
People looking to snap up a coastal bargain might want to head to Newbiggin-by-the Sea in Northumberland (pictured above), which was found to be the least expensive seaside town out of the 196 looked at across Britain. The average house price here is £83,760.
Someone could buy seven houses in Newbiggin for the price of one in Salcombe in Devon (pictured above), which was found to be the most expensive coastal town, with average house prices at £615,344.
Sandbanks in Dorset was the second most expensive town (pictured above), with average property values at £574,089.
Five seaside towns in Scotland have recorded at least a doubling in house prices since 2004, with all five towns on the Aberdeenshire coast.
Fraserburgh has experienced the biggest rise with a 141 per cent increase from an average price of £53,641 10 years ago to £129,325 in 2014. Cove Bay, Peterhead, Inverbervie and Stonehaven have seen the next biggest gains.
South of the border, Aldeburgh on the Suffolk coast has seen the best house performance among seaside towns, with average property values almost doubling in the decade to £446,576 in 2014.
Other English seaside towns in the top 10 for average price increases are Wadebridge in north Cornwall and Workington in Cumbria, which have both seen a 91% increase in property prices over the last 10 years.
Craig McKinlay, mortgage director at Halifax, said: "Seaside towns provide a unique lifestyle opportunity and remain popular places for people to live, while also attracting those looking for second homes or holiday properties which can place additional upward pressure on house prices.
For once, oil and water have mixed - with Aberdeenshire at the heart of Scotland's vigorous energy industry, it's little wonder that seaside houses have increased so substantially."
The study used figures from the Land Registry and the Registrar of Scotland.
Here are the 10 most expensive seaside towns according to Halifax, with the average house price:
1. Salcombe, South West, £615,344.
2. Sandbanks, South West, £574,089.
3. Aldeburgh, East Anglia, £446,576.
4. Padstow, South West, £381,812.
5. Dartmouth, South West, £373,173.
6. Wadebridge, South West, £371,670.
7. Lymington, South East, £359,802.
8. Budleigh Salterton, South West, £356,172.
9. Mawes, South West, £329,998.
10. Lyme Regis, South West, £326,813.
Here are the 10 seaside towns which have seen the biggest house price increases over the last 10 years, with the average house price now and the percentage change:
1. Fraserburgh Scotland, £129,325, 141 per cent.
2. Cove Bay, Scotland, £180,499, 119 per cent.
3. Peterhead, Scotland, £130,234, 118 per cent.
4. Inverbervie, Scotland, £215,593, 114 per cent.
5. Stonehaven, Scotland, £228,037, 101 per cent.
6. Aldeburgh, East Anglia, £446,576, 95 per cent.
7. Montrose, Scotland, £118,441, 94 per cent.
8. Prestonpans, Scotland, £168,772, 93 per cent.
9. Wadebridge, South West, £371,670, 91 per cent.
10. Workington, North, £131,557, 91 per cent.
Here are the 10 least expensive seaside towns, with the average house price:
1. Newbiggin-by-the-Sea, North, £83,760.
2. Port Bannatyne, Scotland, £85,605.
3. Girvan, Scotland, £85,868.
4. Wick, Scotland, £89,582.
5. Ardrossan, Scotland, £89,974.
6. Irvine, Scotland, £90,428.
7. Stranraer, Scotland, £90,552.
8. Campbeltown, Scotland, £91,276.
9. Saltcoats, Scotland, £92,205.
10. Withernsea, Yorkshire and the Humber, £92,251.
Think you know your British seaside towns? Put your knowledge to the test with our slideshow!
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