Seaside towns becoming more popular and rising in price

Seaside towns becoming more popular and rising in price [Photo: roberthyrons via iStock]

Prices in Britain's cities in recent years have been driving people away, with many choosing to move towards the coastal areas of the country, where they can enjoy a more peaceful and quiet way of life, while also enjoying prices far below what they have experienced in the past. 

Places like Southend-On-Sea in Essex and even Brighton have become popular with those working or studying in London, who see the commute as a good trade off for the lower prices and different lifestyle they experience when living on the coast. 

However, this popularity has meant that the last decade has seen prices increase markedly in the 196 seaside towns located across the country, according to the latest report released by the Halifax. 

In the Halifax study, it was found that in the period between 2006 and 2016, the average house in one of these seaside towns has increased in price by 32 per cent, with the average climbing from £166,565 in 2006 to £219,386 as of this year. This means that in the ten years since 2006, there has been an average bump in house price of home £440 every month. 

Martin Ellis, a housing economist at Halifax, said:" Seaside towns are highly popular places to live, offering sought-after scenery, weather and lifestyle which no doubt come at a price. 

"They also attract those looking for holiday properties, which add upward pressure on house prices."

Halifax reports that most of the seaside towns that have helped to increase the average prices are located in the south-west, which has become a hotspot for buyers who want to live by the seaside. Over the course of the last ten years, these have grown in such a way that as many as eight of the top ten most expensive seaside towns is in this region. 

The most expensive of all is Sandbanks in Dorset, a town where the average house price has hit a staggering £665,000 on average in recent years. This is followed in the list of most expensive towns by Salcombe in Devon, where prices now sit at £593,950, and Padstow in Cornwall, where the average buyer is now having to shell out £443,396.