Properties with ocean views attract a property price premium of 30.4per cent – significantly higher than other water view premiums.
River views attract a 23.6per cent premium and canal views a 17.6per cent premium compared to other local homes.
Burnham Market attracts greatest property price premium for a waterside view of any UK location – river views here command an 87per cent premium.
The appeal of a Swallows and Amazons lifestyle continues to excite British homebuyers, with many prepared to pay a considerable premium of almost a third more for a waterside lifestyle. The most valuable waterside view for a UK property is of the ocean, attracting a 30.4per cent price premium, according to the latest research from Jackson-Stops & Staff.
The news comes as the estate agent officially launches its Coast and Water division, which is dedicated to selling homes located along the more than 7,000 miles of waterside land within the UK.
Having analysed more than 30 of the UK’s most sought after and popular waterside locations, the research shows that ocean views command a property price premium of almost a third compared with other properties without this benefit, while river views generate a 24per cent boost in value and 18per cent for canal views. While all water views generate a significant premium for the homes they benefit, ocean views are by far the biggest income generators.
Nick Leeming, Chairman at Jackson-Stops & Staff, says, “The aspiration of owning a home with a view across water and living near features such as the ocean, rivers and canals has long been embedded in the British psyche. As an island we are surrounded by water and as a population our demand for living near the water is insatiable. As such all views across water in all the locations we analysed generated a strong house price premium for the homes they benefit – without exception.
“However, homes with views of the ocean generated by far the greatest uplift – boosting a property’s value by just shy of a third, compared to homes without this benefit. But it’s not just about the views; these homes generate substantial premiums because of the lifestyle benefits that accompany them. Walking, sailing, surfing and swimming are favourite British past times and with a focus on healthy living, never before has it been more in fashion to live in an area which affords a lifestyle of this type.
“Nostalgia is equally an important factor to consider. Childhood holidays on the coast and dreams of a Swallows and Amazons upbringing inspires many families to locate to waterside hot-spots where weekends are spent exploring and enjoying all of the natural surroundings and an outdoor lifestyle is encouraged.”
The research also shows that Burnham Market in North Norfolk (which is now often referred to as “Chelsea-On-Sea”) is a stand-out location when it comes to waterside views. A property with a river view here will be on average 86.9per cent more expensive than properties without this boon, despite the fact that river views overall do not attract the greatest price premium of the water views
Tim Hayward, Director at Jackson-Stops & Staff’s Burnham Market branch, comments: “Purchasers in North Norfolk are buying into a lifestyle which has been popular for over ten years now. The coastline is superb, offering beautiful sandy beaches, saltmarshes teeming with wildlife and challenging sailing through the creeks and out to sea. It has become a top-class destination not only for holiday homers but increasingly for those looking to escape the rat-race and escape to the country. It’s not unusual to spot a celebrity or two and as a result of its increased popularity we’re now finding the area is thriving with independent boutiques, high class art galleries and award winning restaurants to meet the needs of the community.”
Properties with ocean views command an average property price premium of 30.4per cent compared to homes in coastal locations without a view. The table below shows the coastal areas in which homes with sea views attract the largest premium, according to the Jackson-Stops & Staff research.
Nick Leeming (right) says, “Rock and Padstow have long been firm favourites for staycationers and as our research shows, their appeal continues unabated with a premium of more than 68per cent. Their popularity is rubbing off on other parts of the South West however and the whole of Devon with its many beaches and beautiful coastline has become incredibly sought after. Watersports and other activities are a key reason why many move here, from kite surfing, wind surfing, powerboating and surfing all equally popular. While properties located on a sea-side road and which offer far-reaching ocean views will always achieve a premium, savvy buyers might also consider investing in a property a road or two back which offers easy access but without the hefty price-tag.”