UK seaside town houses more than double

by Alister POOLE on May 30, 2011

The cost of owning any house by the seaside has doubled over the past 10 years, according to the Halifax bank.

The bank also found property prices in at least 70% of seaside towns across England and Wales have experienced greater increases higher than the national average every year since 2001.

Wadebridge, Cornwall, which is just a few miles from the south west coast of England, saw the biggest increases in average house prices. Remarkably, prices in there have increased from £100,406 to at least £370,902. In second place is Maryport, a popular spot in the north’s Lake District and in third is Tenby in Wales.

The Halifax discovered that 60% of the 10 surveyed seaside towns that have undergone the biggest rises in prices for the last 10 years are located in northern England or Wales. Three are in the southwestern England though, and the other is in East Anglia.

The 10 most expensive coastal towns are still in southwestern England, as has always been the case, and a property in Sandbanks, Dorset is the most expensive in the country before Padstow in Cornwall. Average prices for a house in Sandbanks are set around £532,652 and anyone interested in living in Padstow will need to raise around £381,916 to get a home. Outside of England, Mumbles in Swansea is the most expensive place to own a home as the average price for a house is £263,494.

Mr Nitesh, Halifax’s housing economist, commented that seaside towns have forever been regarded by Britons as the best places to live.

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