House prices in Britain’s hottest coastal housing markets have grown by 4.2% in the past 12 months, latest analysis from Quickmove Properties reveals.
The over 50’s property specialist found that across 100 British coastal locations the current house price averages just over a quarter of a million pounds (£250,644) and has grown 4.2% in the past year alone.
That’s in stark contrast to the broader narrative that has seen Britain’s overall average price remain largely unchanged, up by just 0.8% in the last year.
Meanwhile the average rate of house price growth across the wider local authorities in which these coastal hotspots are found has also remained static over the last year at 0.04%.
Nine out of 10 (92%) coastal markets recorded positive price changes over the last 12 months with just one location remaining static and seven witnessing a reduction in prices.
The five largest coastal price booms have all been recorded in Scotland, led by 19% growth in Lossiemouth (main picture) and followed by Burntisland (17.9%), Irvine (16.2%), Ayr (14%) and Cockenzie (13.1%).
Two other coastal markets also achieved double digit growth with prices in Wales’ Portmeirion growing by 11.7% and prices in Newquay growing by 10%.
WILD SHORES
Mark O’Dwyer, Quickmove PropertiesMark O’Dwyer, Sales Director at Quickmove Properties, says: “The Great British coast has enticed homebuyers for centuries. From Scotland’s wild shores to the calm sands of Cornwall, so many of us crave to live by the sea.
“Such is the pull of coastal living that many local house prices stand stoic like a lighthouse in a storm against broader negative trends in the national market.”
He adds: “But because of this, the cost of buying bricks and mortar on the coast tends to be high and thus inaccessible to far too many people.
“For a fraction of the price, you can buy yourself a beautiful modern park home in a prime seaside location and still have plenty of cash left over from selling your old home to enjoy everything that coastal living has to offer.”
Scenic coastal view of Lossiemouth, Moray, Scotland
