Seaside house prices double in a decade
The average house price in seaside towns has risen 128% while seven out of 10 seaside towns exceeded the average rise of 118% seen in the whole of England and Wales.
The largest increase was observed in the Cornwall town of Wadebridge where the average price jumped by almost 270% from just over £100,000 in 2001 to £370,902 in 2011.
Southern seaside towns are the most expensive with Sandbanks in Dorset with the highest average house price of £532,652.
Nitesh Patel, housing economist at Halifax, said: “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% 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.”