Analysis by park residence promoting specialists Quickmove Properties, has revealed which of Britain’s favorite seaside areas are residence to probably the most unique coastal housing markets, with home worth premiums sitting as excessive as 89% when in comparison with the broader areas during which they’re positioned.
Quickmove Properties analysed property costs in 100 of Britain’s favorite seaside cities, how they examine to the broader native authority, earlier than revealing the 32 most unique that command a home worth premium.
The analysis exhibits that, on common, residing in one in all these 32 unique coastal areas will set you again £375,186, 19% greater than the typical worth of buying throughout the broader native authorities these seaside areas are positioned inside.
Prime of the desk is Devon’s Salcombe, with the typical home worth within the TQ8 postcode coming in at £739,455, 89% increased than the typical price of a house in South Hams.
The Dorset postcode of BH13, residence to the celebrated seaside group of the Sandbanks, can be residence to a mean home worth of £599,547. That’s 71% increased than the broader common of £350,505 discovered throughout Bournemouth, Christchurch and Poole.
Padstow ranks third, with properties within the PL28 postcode commanding 62% extra within the present market versus the broader Cornwall common, whereas different areas to make the highest 10 embody Southwold (56%), Aldeburgh (54%), North Berwick (38%), Porthcawl (34%), Abersoch (26%), Seahouses (24%) and Fowey (24%).
What’s extra, whereas home costs throughout Britain have elevated at a charge of simply 5.5% within the final yr, many of those unique coastal cities have far outperformed that nationwide common. Porthcawl has seen a rise within the common home worth of 12.8% over the past yr, with Abersoch (+11.3%), Tenby (+10.9%) and Bigbury on Sea (+10.3%) additionally seeing double digit charges of development.
Nevertheless, there may be one reasonably priced route to buying a property inside Britain’s most unique seaside cities. Lots of Britain’s greatest park residence developments are largely discovered throughout coastal areas and may provide a considerably extra reasonably priced pathway to coastal homeownership.
Gross sales Director at Quickmove Properties, Mark O’Dwyer mentioned, “As an island nation, we like to be beside the seaside, however throughout the nation’s most fascinating coastal areas properties fetch an typically hefty worth premium as a consequence of excessive demand and restricted inventory.
Places resembling Salcombe, the Sandbanks and Padstow are amongst a few of the most unique and command worth tags not dissimilar to standard London neighbourhoods. Even these on the extra reasonably priced finish of the size carry a premium when in comparison with the broader price of shopping for of their given areas.
For many homebuyers, this implies the prospect of a seashore adjoining property is past their attain however for these seeking to downsize of their later years, there’s a extra reasonably priced possibility that permits a coastal way of life with out compromise.
Many trendy park residence developments are sited on former vacation parks, throughout a few of the nation’s greatest coastal areas. Park residence residents typically describe the approach to life as like being on vacation day by day! These bungalow-style properties present a much more reasonably priced possibility in comparison with the bricks and mortar market.
For instance, the typical price of a park residence sits £80,000 beneath the value of a bricks and mortar residence in each Whitstable in Kent and Bude in Cornwall, and £145,000 extra reasonably priced in Christchurch, Dorset. All fascinating locations the place Quickmove has park properties on the market.
So if you wish to really feel the sand between your toes with out spending over the chances, a park house is actually a worthwhile consideration.”