What you may not consider is the investment opportunity. For if we told you the average asking price for a beach hut has increased by 43% over the last year, you may wonder if you’d missed the boat – so to speak.
New data showed, in England, a typical beach hut is currently on the market for £49,290. Whilst the average home in England is currently £308,365 the annual increase is a far less modest 5.5% compared to the 43% increase of the typical beach hut.
If you got the location right, you could be experiencing far greater appreciation on your beach-side investment according to Moverly, a digital home information pack provider which carried out the research.
In Dorset, one of the nation’s most popular beach hut hotspots, beach hut inflation is at 101%. You will need an average of £123,524 to purchase one in this county.
Kent and Essex rank as the second most expensive beach hut hotspots at £42,257 and £42,008 respectively, said Moverly.
West Sussex has seen the second highest annual rate of increase, with the average asking price of a beach hut up by 77% in the last year.
Norfolk ranks third, with a 48% year on year increase, with East Sussex (42%) and Hampshire (25%) also ranking high.
Why are beach huts rising in price so significantly?
Being by the beach is, of course, a great advantage but another reason for the strong growth in asking prices for beach huts is the fact these seaside gems are in short supply.
Ed Molyneux, Moverly co-founder, said: “While the rest of the UK property may be slowing under the pressure of economic uncertainty, it certainly doesn’t seem to be impacting the appetite for the Great British beach hut, with the average price tag having shown positive growth across all areas of the market over the last year.
“Beach huts continue to command an extremely healthy price given their rather modest offering and this is down to their seaside adjacent location, as well as the finite level of stock available on the market to prospective buyers.
“Of course, much like the regular market, the price of a beach hut will differ depending on location and it’s fair to say that Dorset, home to the prestigious Sandbanks, is by far the most exclusive area of the beach hut market. And it shows, with the average cost of a beach hut in the area costing almost £124,000.”
Do you know any lenders who will consider beach huts?