July 6, 2022

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Britain’s costliest seaside city named – common home worth practically £1million

The Halifax Seaside City Evaluation, which tracks home worth actions in 191 seaside cities, has unveiled the UK’s costliest seaside city. Based mostly on home worth information from the Land Registry and Registers of Scotland, Sandbanks in Dorset has been named as the costliest city.

With the common home worth standing at £929,127, potential homebuyers can count on to pay 10 p.c greater than costs in 2020.

Sandbanks is recognised as one of the vital unique areas within the UK, with its beautiful seashore offering a great location for a seaside  break.

Harry Redknapp and spouse Sandra lived in Sandbanks for a number of years earlier than relocating to Branksome Park.

The overview additionally named Salcombe in Devon because the UK’s second costliest seaside location, with a median home worth costing £912,599.

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It has develop into a preferred vacationer vacation spot through the years, with Salcombe only a brief drive away.

Prime 10 costliest seaside cities:

1. Sandbanks

2. Salcombe

3. Padstow

4. Lymington

5. Aldeburgh

6. Fowey

7. Dartmouth

8. Lyme Regis

9. East Wittering

10. Kingsbridge

Potential homebuyers can count on to pay a median worth of £464,858 for a property within the space.

Final yr’s seaside city, Millport in Scotland, noticed the best annual improve, up 53 p.c.

Additionally in Scotland, Port Bannatyne noticed the best worth rise over the past 5 years.

Home costs have risen within the space by 56 p.c to £111,717.

Margate in Kent has additionally seen an enormous rise in home costs with them up 98 p.c within the final 10 years to £282,734.

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Russell Galley, Managing Director, Halifax, stated: “Our ongoing love affair with dwelling by the ocean reveals few indicators of abating.

“Houses on the coast have lengthy attracted a premium worth, and this was no totally different in 2021, with the transfer in the direction of working from dwelling being an ongoing affect in the place individuals select to stay.

“The common seaside dwelling value is £287,087, up eight p.c on the earlier yr.

“Whether or not it’s a life-style sought, the surroundings or the ocean air, in relation to shopping for houses, we actually do like to be beside the seaside.

“The most important beneficiary of that want final yr was Millport on the Scottish Island of Nice Cumbrae, and over the past 5 years it was Port Bannatyne on the Isle of Bute.

“The seaside city that draws the best costs general are dominated by areas throughout the south coast, with Sandbanks in Dorset taking the title of the costliest seaside city from final yr’s winner, Salcombe in Devon.

“Each cities have common home costs of over £900,000.”