The unlikely UK seaside town where a sea view hikes property prices by 72%
This unexpected British seaside town has seen the price of homes by the sea soar.
For many, life by the sea is the dream and a sea view is the ultimate luxury. But in one UK seaside town, that view is driving asking prices to eye-watering heights.
New data has revealed that in Skegness, a seaside resort town on the Lincolnshire coast, buyers are forking out an astonishing 72% more for properties that offer a glimpse of the ocean. The figures show that while the average coastal property in the wider region are listed at around £254,544, homes that boast a sea view come in at a much steeper £428,330, marking a difference of nearly £174,000, according to property website, Rightmove.
It’s an unexpected twist for a town long associated with sea front attractions, affordable beach breaks and buckets and spades holidays. However, experts have said that a mix of limited stock, growing demand, and changing lifestyles is fuelling the rise.
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Mary Lou-Press, from estate agent industry body Propertymark, told the Daily Mail: "The surge in people working remotely since the pandemic has no doubt resulted in an increase in demand for properties with seaside views."
She added that the high prices are also due to other factors like location, the quality of the view, and the overall appeal of the area all play a role in driving up prices.
A recent analysis by Property Solvers, using Land Registry data and based on data over three sales, also reveals a striking contrast between Skegness's most and least expensive addresses.
At the luxury end of the spectrum, Drummond Road holds the title for the priciest street, with homes averaging £406,666.
Close behind are St Andrew’s Drive and Albert Avenue, where properties regularly sell for more than £350,000.
These locations are often just a short walk from the beach and in some cases, directly overlook the shoreline.
On Scarbrough Avenue, however, the average property fetches just £48,500.
Other more affordable streets include Ellis Court with an average property price of £51,500 and Baythorpe Caravan Park at £75,657.
Ruban Selvanayagam, co-founder of Property Solvers, said: "To keep the data less skewed, we only ranked the streets that had over three sales.
"It’s therefore worth noting that, in recent years, a property on Albert Avenue (PE25) sold for £725,000 and, at the other end of the market, there were properties that sold for £41,500 and under on Beresford Avenue (PE25), Lumley Avenue (PE25) and Ellis Court (PE25)."
