The Halifax Seaside Town Review, which tracks house price movements in 191 seaside towns, has unveiled the UK’s most expensive seaside town. Based on house price data from the Land Registry and Registers of Scotland, Sandbanks in Dorset has been named as the most expensive town.
With the average house price standing at £929,127, prospective homebuyers can expect to pay 10 percent more than prices in 2020.
Sandbanks is recognised as one of the most exclusive areas in the UK, with its gorgeous beach providing an ideal location for a seaside break.
Harry Redknapp and wife Sandra lived in Sandbanks for several years before relocating to Branksome Park.
The review also named Salcombe in Devon as the UK’s second most expensive seaside location, with an average house price costing £912,599.
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It has become a popular tourist destination over the years, with Salcombe just a short drive away.
Top 10 most expensive seaside towns:
1. Sandbanks
2. Salcombe
3. Padstow
4. Lymington
5. Aldeburgh
6. Fowey
7. Dartmouth
8. Lyme Regis
9. East Wittering
10. Kingsbridge
Prospective homebuyers can expect to pay an average price of £464,858 for a property in the area.
Last year’s seaside town, Millport in Scotland, saw the greatest annual increase, up 53 percent.
Also in Scotland, Port Bannatyne saw the greatest price rise over the last five years.
House prices have risen in the area by 56 percent to £111,717.
Margate in Kent has also seen a huge rise in house prices with them up 98 percent in the last 10 years to £282,734.
Russell Galley, Managing Director, Halifax, said: “Our ongoing love affair with living by the sea shows few signs of abating.
“Homes on the coast have long attracted a premium price, and this was no different in 2021, with the move towards working from home being an ongoing influence in where people choose to live.
“The average seaside home cost is £287,087, up eight percent on the previous year.
“Whether it’s a lifestyle sought, the scenery or the sea air, when it comes to buying homes, we really do love to be beside the seaside.
“The biggest beneficiary of that desire last year was Millport on the Scottish Island of Great Cumbrae, and over the last five years it was Port Bannatyne on the Isle of Bute.
“The seaside town that attracts the highest prices overall are dominated by locations across the south coast, with Sandbanks in Dorset taking the title of the most expensive seaside town from last year’s winner, Salcombe in Devon.
“Both towns have average house prices of over £900,000.”
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