Britain’s coastal dream comes with a premium price tag, as new research from Rightmove reveals that homes with sea views command 32% more than comparable coastal properties without one.
According to the UK’s largest property platform, the average asking price for a home with a sea view now stands at £363,181, compared to £275,074 for properties in similar coastal areas without the view – a difference of £88,106.
Rightmove analysed over 200 coastal locations, comparing the average asking price of properties with and without sea views.
As Britain’s housing market continues to adapt to changing preferences, agents say demand for premium lifestyle features – from sea views to home offices – remains robust, particularly among cash buyers and second-home seekers. But they also warn that supply remains tight in many coastal markets, which may continue to drive premiums higher in the years ahead.
ACROSS THE REGIONS
While a premium was observed across the country, the East Midlands saw the largest price differential, with homes boasting a sea view attracting a 68% premium and averaging £428,330.
The South West followed with a 44% premium, while Scotland was close behind at 43%. Torbay in Devon, part of the South West region, emerged as the area with the greatest number of homes currently listed with a sea view.
HIGH DEMAND
Colleen Babcock, property expert at Rightmove, says: “Sea views have always been a highly sought-after feature for homebuyers, and our latest research highlights just how much more people are willing to pay for one.
“The East Midlands claims top spot as the region with the highest price premium for homes with a sea view at 68%, compared to homes with a sea view in the South East, which has a much lower sea view premium of 22%.
“A contributing factor for this difference could be the exclusivity of properties with a sea view in these areas.”
POST-PANDEMIC LIFESTYLE SHIFT
Industry observers say the post-pandemic shift in lifestyle and working patterns has helped reignite demand for scenic and remote living. The ability to work from anywhere – at least part of the week – has led some buyers to prioritise outlook and location over commute times.
Mary-Lou Press, President of NAEA Propertymark, says: “This is encouraging news for those who own seaside properties, as their homes carry significant value.
“The surge in people working remotely since the pandemic has no doubt resulted in an increase in demand for properties with seaside views.
“However, the price premium added to seaside homes is determined by many variables like location, the quality of the view, and the overall appeal of the area.
“Although a sea view can be a sought-after and valuable feature, it’s important to be aware of the elements that affect its value. Conducting thorough research on the specific market is crucial before making any purchasing decisions.”
