If you’ve had your heart set on owning a piece of England’s seaside property, you better start saving – a lot. In a study conducted by Halifax, they found that seaside town prices have risen significantly faster and higher than has the national average in the last decade. Prices in these towns have risen by 97% and prices have more than doubled in approximately 50% of seaside towns in England and Wales.
The largest jump was in Seaham, in County Durham. They had a 183% increase, taking the price of a typical house up to £109,000 this year. In Wadebridge prices have gone up 173%, while in Padstow they’ve gone up 171%.
Ironically, all of the top ten most expensive seaside towns are located in the South – and the ten cheapest ones are in the North.
Housing economist Martin Ellis from Halifax said, “Seaside living often comes with a price. The majority of seaside towns in Wales, East Anglia and the South West have an average house price that is higher than the surrounding area. But this is not always the case and good value properties can be found in many seaside towns in the South East and Yorkshire and the Humber in particular.”