Britons are increasingly looking to own a home in a coastal area, with property prices across seaside spots jumping over 13% on average over the last year.
Canford Cliffs in Poole, Dorset, is the top seaside price hotspot, with asking prices jumping 24% compared to last year — the most of any coastal area, according to data from property website Rightmove (RMV.L). A property here now comes with an average price tag of £1.2m.
Brixham in Devon is the second seaside price hotspot, with asking prices rising 23% to £337,129, while Abergele in Conwy, Wales came third, a 22% increase to £234,613.
Across all seaside locations in Great Britain, asking prices are up 13.9% on average compared to last year, outpacing the national average of 9.9%.
“There have been large periods where demand has greatly outstripped supply over the last couple of years which has contributed to the significant rise in asking prices we’re seeing today,” said Tim Bannister, Rightmove’s director of property science.
Competition for homes in seaside locations during the last year has meant the pace of the market has increased. The average time to find a buyer in a seaside location is 33 days, and on average, homes are finding buyers nearly three weeks (20 days) quicker than last year.
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Steve Isaacs, director at Luxury & Prestige Properties in Canford Cliffs, said: “Like many coastal areas, we in Canford Cliffs have been incredibly busy for a long time, and we’re still seeing really strong demand to move to this part of Dorset.
"One of the key things we’ve noticed influencing moves is that working patterns have changed. We’re seeing lots of people wanting to buy larger homes now that they spend more time working from home.
"We’re also seeing new types of buyers looking in Canford Cliffs from outside the area now that their work has become more flexible. Whereas before the pandemic we had many people interested in a holiday home, now we’re seeing more people looking for a property they can comfortably spend a good portion of the year in and work.”