- Salcombe is most expensive coastal town, outperforming others in Devon by 171%
- 90%+ coastal towns saw prices rise by between 11% and 55% since 2013
- 51% of coastal towns outperform others in their county
As the summer holidays are almost upon us (shame the sunshine hasn’t got on the programme…) Jackson-Stops analysed exclusive Zoopla data to rank 45 top UK coastal towns and their counties based on capital growth, current average prices and price premiums over the last five years.
The findings reveal that more than nine in ten coastal towns saw prices rise by between 11% and 55% over the last five years, while more than half (51%) of those analysed have outperformed the county in which they reside in terms of property prices between 2013 and 2018.
South West markets: wind in their sails
Out of the 20 towns which currently command a premium compared to the rest of their county, Salcombe takes the top spot, with prices 110% higher than those in Devon over the last 10 years. With Zoopla’s data showing prices rose in the town to £787,628 in 2018, properties now achieve a premium of 171% compared to the average price of a home in the county of Devon.
Salcombe is also the most expensive coastal town analysed. Interestingly, seven of the top ten most expensive coastal towns are located in the South West, including Padstow, Dartmouth and Lyme Regis – making this the highest-priced region of those analysed.
51% of coastal towns analysed have outperformed the county in which they reside in terms of property prices in the last five years. Homes in Aldeburgh in Suffolk (86%) and Padstow in Cornwall (80%) currently achieve a significant premium compared to others in their counties. Aldeburgh is also the second most expensive town of those analysed, with average house prices in this sought-after UK seaside location increasing by 18% to £514,552 over the five years to 2018. According to Jackson-Stops’ Ipswich branch, properties on this seafront can also command a significant premium of 25+%.
Nick Leeming, Chairman of Jackson-Stops, said, “The UK’s desire to live by the coast continues to grow and is reflected by the house price growth in all but one of the towns we analysed.
“According to Zoopla’s data, a property by the coast costs on average £301,855, which is £75,066 more than the average UK home. Sailing, surfing, taking in the fresh sea air and enjoying fish and chips or an ice-cream along the promenade are all much-loved British past times for families, young people and downsizers alike. Therefore, it should come as no surprise that demand is pushing up prices, and locations such as Salcombe in Devon and Aldeburgh in Suffolk are achieving premiums of between 86% and 170% compared to the counties in which they reside. The lifestyle benefits associated with living by the seaside come with a significant price tag, yet many are still prepared to pay it.”