Seaside house prices up by third in 10 years
CELEBRITY playground Sandbanks has been named Britain’s most expensive seaside town – after a survey found house prices have risen by a third in 10 years.
Sandbanks has been named Britain’s most expensive seaside town
The average price of a home in the Dorset resort is nearly £665,000.
The Devon resort of Salcombe, where the average is £539,950, was in second place, the Halifax's annual seaside town review found.
The South-west, a popular area for people buying second homes, dominated the list of most expensive seaside towns in Britain, while Scotland dominated the list with the least expensive properties.
Padstow, Cornwall (£443,396), Dartmouth, Devon (£401,361), and the Cornish towns of Fowey (£379,003), St Mawes (£373,746) and Wadebridge (£373,351) were on the list of seaside towns with the highest property values.
Padstow is also on the list of seaside towns with the highest property values
An average home in Sandbanks is the equivalent of eight properties on the Isle of Bute
In Scotland Port Bannatyne (£77,132), Girvan (£91,912), Campbeltown (£91,938), Stranraer (£96,476), Invergordon (£98,673) and Rothesay (£99,005) were among the least expensive towns.
A buyer could snap up eight properties in Port Bannatyne on the Isle of Bute for the price of an average home in Sandbanks.
A three per cent stamp duty rise was imposed on April 1 on second properties, including buy-to-let investments.
The average price of a home in the Dorset resort is nearly £665,000
The bank found that house prices have increased by 32 per cent (£440 a month on average) in seaside towns over the past decade.
Martin Ellis, a housing economist at the Halifax, said: “Seaside towns are highly popular, offering soughtafter scenery, weather and lifestyle which come at a price.”