Whether you are purchasing a four-bedroom flat, a cottage or country house by the sea on www.for-sale.com, prices are always marked up to cater to the proximity to the water body. Research shows that the rates of more than 66% of seaside homes were 27% higher than the average UK properties. Locations like Salcombe and Cornwall, which host the most expensive coastal properties for sale UK have property prices that range from £609,764-£800,688. The waterfront index prepared by Knight Frank showed that buyers looking to buy seafront properties in the South West part of England pay the highest premium, i.e., 105% while those looking to purchase in London pay 96%.
Why Waterfront Property Prices Vary
The premiums vary based on factors like the type of beachfront property for sale, distance from the water body and presence of additional structures like a jetty or mooring. Properties with the highest prices have unique features that offer practical uses for boat owners. For example, homes with mooring have premiums as high as 121%, those with a slipway have are marked up by 133% while those with private access to a beach have premiums of 96%. Also, homes by harbours had premiums of 107% while those located near coasts were marked up by 77%.
The Best Places to Look for Homes by the Sea in the UK
Despite the high prices, a coastal property for sale in the UK remains the most lucrative in the country. Even after the introduction of higher stamp duty for second home buyers in 2016, the market for beach houses for sale is still growing. Experts advise to buy a beachfront property for sale in popular locations as they tend to hold value for a long time, are popular with tenants and have a good return on investment when it is time to sell. Here are the best places where buyers look for a seafront property for sale in the UK.
Most Expensive Towns
Most of Britain’s expensive seaside towns are located in the South Coast region with Sandbanks taking the lead. Properties retail at £785,426, a 26% increase in just one year. The price surged after the recently developed property in Poole and is also a reflection of the high number of multi-million homes sold in the past 12 months. In 2018, a 13,000 square-foot house sold for as much as £8.09 million. Sandbanks is home to famous people like the former football managers Graeme Souness and Harry Redknapp, the celebrity interior designer Celia Sawyer and Sir Peter Ogden, a computer magnate. The second most expensive seaside town is Aldeburgh, in Suffolk. Houses for sale near the sea cost £526,065. Aldeburgh is the only town that has experienced a dip in prices in 2018. Meanwhile, the Southeastern region experienced the highest price growth in the last decade with houses retailing at £311,718.
Cheapest Waterfront Property Towns
Looking for a good bargain for a coastal property for sale? Go to Scotland. It is home to nine out of 10 cheap coastal areas. Port Bannatyne is the most affordable with properties retailing at £86,830. The only non-Scottish town that appears on the top 10 cheap seaside towns is Newbiggin-by-the-Sea in Northumberland. It was redeveloped in 2007 and has a vast stretch of sandy beaches. Coastal properties for sale UK retail at an average of £88,844.
Other Upcoming Seaside Towns
Southend-on-Sea in Essex: Experts report an increase in the homeowners moving from Norfolk, London and Suffolk to Southend as a result of the growing number of good schools in the town. The renowned Southend High School for Boys and Girls were among the best 100 schools in England in the latest league tables. Also, the growing number of Edwardian and Victorian homes has drawn many buyers to the town. House prices in Southend are more affordable than other seaside towns and have excellent rail and road links to the capital. The average price of coastal properties for sale in the city is £235,295.
Hayle, Cornwall: While Cornwall is known for its sky-rocketing prices, Hyle offers more affordable options to buyers. Beach houses for sale retail at £195,703. Apart from the convenient located of the waterfront properties, the town has a mainline railway station. Ongoing development projects are meant to build new properties and restaurants that will make Hayle one of the best places to live in West Cornwall.
Donaghadee in Ards Peninsula: The town has become increasingly attractive to people working in the city. The picturesque harbour, great local schools, a thriving town centre and a fantastic sports facility, are some of the features drawing the holiday-home market. Waterfront properties retail at £210,543.