Coastal towns see house price boom

There are many that spend time in their day dreaming about escaping the big city and the large amounts of traffic plus the pollution, to move to a more peaceful, relaxing and attractive area such as a coastal village or town.

However this for many is a dream that little by little falls further away from the grasp of many because of the price of buying a property in a coastal town most anywhere in the UK.

The latest reports say the cost of purchasing a home on the coast in the UK has become more expensive with the prices doubling over the past decade. In over 70% of the seaside towns the prices have since increases which are higher than the national average since 2001.

Therefore many people that decide to want to up sticks for a higher quality of life, may not have the capacity to purchase the property because it is too expensive and may have to opt for renting which in turn is good for those that invested in rental property in the sea since they will probably see more demand since there will be few buyers there will be more renters, a natural succession.

Good new for buyers and those that are interested in investing by the sea is not all of the seaside towns have extraordinary prices and if you look in the right places there are bargains as well. Research shows it is a very distinct dividing line between North and South when it comes to house prices in coastal towns. All of the most expensive towns on the coast are along the southern coast.

Sandbanks in Dorset is the top of the heap with an average of over £530,000. Sandbanks is then followed by Cornwall’s Padstow at £382,000, Wadebridge was next at £378,000 and Cornwall’s Fowey at £365,000. In places that are outside of southern England the most expensive are Mumble in Swansea at £264,000, then Tenby at £230,000 Alnwick in Northumberland and Whitby round out the top five that are not in southern England.