Properties in seaside towns have more than doubled over the past decade, according to the latest research from Halifax. The average price has risen by 128 per cent, outstripping the national average of 118 per cent.
Wadebridge in Cornwall saw the biggest jump in prices, going from an average of just over £100,000 to £370,000 in a decade – a rise of 270 per cent. Maryport in Cumbria saw the second-largest growth, with prices in the Lake District town rising from about £41,000 to £120,000 over the period.
Blackpool and Cleethorpes remain some of the cheapest seaside towns, with average prices of £111,000 and £117,000 respectively. But the cheapest seaside town is Withernsea on the North Humberside coast, where prices average £99,153.
Nitesh Patel, housing economist at Halifax, commented: “Seaside towns have always been popular places to live, but they have perhaps become even more so in recent years. This is certainly true if we take house prices as an indicator of desirability. Over the past decade, the average house price in seaside towns has risen at a faster rate than for all properties in England and Wales generally. The 270 per cent increase in Wadebridge in Cornwall is notable, but prices have seen big rises in coastal towns across northern England and Wales too.
“Seaside towns have a distinct advantage over urban areas in offering that all important sea view, and they typically have a high quality of life and a healthy environment. There is a romance associated with living by the sea and this is evident in the high house prices seen in many of these areas.”
