Coastal Investment Hotspots make a splash

New analysis from Rightmove reveals that Sandbanks in Dorset is the most expensive coastal area, with a current average asking price of £1,582,331.

 

Nearby Canford Cliffs in Poole is the second most expensive coastal area, with an average asking price of £1,242,181 and Milford-on-Sea in Hampshire is third (£751,442).

 

The study analysed the prices of more than 200 coastal areas across Great Britain.

 

By contrast, Saltcoats in Ayrshire, Scotland is the cheapest coastal area, with an average asking price of £114,365. Easington in County Durham is second (£122,520), and Peterlee in County Durham is third (£124,593).

 

Peterlee is also the current price hotspot, with average asking prices in the area up by 15% compared to this time last year – though average prices in Peterlee are still significantly lower than the regional average.

 

The next nearest price hotspot is Heysham, in Lancaster, where average prices are up by 7% compared to this time last year.

 

Over the last couple of years, the pandemic trend of more people looking to coastal areas over cities has been reversing. This year, the cities of Glasgow, Bristol and Edinburgh are now more searched for than the coastal county of Devon, which was previously in third place this time last year.

 

London and Cornwall remain in first and second place respectively.

 

Tim Bannister, Rightmove’s property expert says: “Whilst the pandemic-driven surge for seaside areas has calmed down and reversed back to more normal levels, areas around Great Britain’s coast continue to be popular with many people. Particularly at this time of year, many people consider what a home by the sea and away from the hustle and bustle of a city could look like, or perhaps explore estate agents’ windows while on holiday.”

 

Steve Isaacs, director at Luxury and Prestige Realty in Poole, adds: “It’s been a positive first half of the year for us, even with mortgage rates staying high and the election called. The areas of Sandbanks and Canford Cliffs continue to be very popular, and prime waterfront properties in Sandbanks have been doing particularly well. For those that can, the lifestyle of living in a beautiful location by the sea will always be appealing and is not to be underestimated.”

Most expensive areas

Cheapest areas

Price hotspots

Most searched for areas