Waterfront properties price premium as high as 81%
Waterfront properties are priced as much as 81% higher than comparable inland homes, research from Knight Frank has shown.
The report found that with a wide variety of waterfront locations on offer a clear premium is paid by buyers for homes in close proximity to water.
Christopher Bailey, head of national waterfront at Knight Frank, said: “For a number of purchasers it’s the ultimate lifestyle choice. Waterfront property is very niche and very desirable, often in a market of its own and that helps to underpin values.”
An analysis of valuations from Knight Frank’s experts across the country shows that prices for prime waterfront properties are as much as 81% higher than comparable inland properties.
The South West offers the most added value at up to 105% and the region is home to some of the country’s most expensive waterfront properties, with Sandbanks, Rock, St Mawes and Salcombe some of the hotspots.
Bailey added: “The most significant proportion of West Country buyers are looking to move out of London and the Home Counties bordering the M25. Interestingly, there is also significant interest in luxury waterfront properties from the Midlands, stretching down to the Bristol area.
“Many of our clients who are selling their homes, particularly in the South Hams, live in the Midlands and come down for the weekends and holidays driving down the M6 and M5 motorways.”
In East Anglia the very best waterside homes can command premiums of up to 51%, dropping slightly to 48% in the South East and 43% in Scotland. The report says that the figures are underpinned by the fact that the most desirable coastal towns and cities across the UK appeal to a broad range of buyers.
Bailey said: “The diverse nature of waterfront property across the UK attracts a real melting pot of buyers from all walks and at all stages of life, whether they be upsizers, downsizers or simply those looking for a lifestyle change. International buyers also form an important, part of the market.
“The appeal really is global. Our web search data shows that individuals from all over the world searched for prime waterfront property in the UK last year, led by potential buyers in the US, Germany, France and Spain.”