House prices may be cooling across much of Britain, but the picture looks very different in some of the country’s seaside towns.
New figures show coastal hotspots are continuing to attract buyers, with property values rising by as much as 11 per cent.
Several seaside locations have posted strong growth despite average asking prices across Britain falling by 0.3 per cent compared with a year ago, according to new analysis from Rightmove.
The property website examined around 100 coastal areas where at least 20 homes were listed for sale and found towns in Merseyside and Wales are leading the way.
The findings suggest demand for coastal living remains strong despite tougher conditions elsewhere in the housing market.
Bootle, on the outskirts of Liverpool, topped the rankings after average asking prices climbed 11 per cent year-on-year.
Despite the increase, the town remains one of the more affordable coastal locations, with homes listed at an average of £141,680 compared with the national average of £378,304.
Fellow Merseyside town Crosby ranked second, with average asking prices rising nine per cent to £330,900.
Britain’s fastest-growing seaside property hotspots revealed as house prices rise by 11 per cent
|
GETTY
Wallasey, also in Merseyside, featured among the fastest-growing markets with a 7 per cent increase, bringing typical asking prices to £200,753.
The concentration of Merseyside towns in the top performers highlights the region’s growing appeal to buyers seeking coastal living at accessible price points.
Welsh coastal towns also feature prominently among Britain’s fastest-growing seaside markets.
Penarth, situated close to Cardiff, recorded an eight per cent rise in asking prices, reaching an average of £433,091 – making it the sole location in the top ten to exceed the national average.
Aerial view of Sandbanks and Poole Harbour. Sandbanks, UK
|
GETTY
Llantwit Major in South Glamorgan matched this growth rate, with typical property values now standing at £340,033.
Further along the Welsh coast, Llanelli in Carmarthenshire posted a seven per cent increase, bringing average prices to £201,570.
Bangor in Gwynedd achieved identical growth of seven per cent, with homes now averaging £220,622. Porthcawl completed the Welsh contingent in the top performers, seeing prices rise six per cent to £359,412.
Colleen Babcock, Rightmove’s property expert, said: “The fastest-growing seaside markets this year show that demand for coastal homes remains resilient, even as overall price growth across the UK stays more modest.
Around 80 per cent of the seaside locations examined had average asking prices sitting below the national figure of £378,304
|
GETTY“While some locations are seeing strong price increases, there are still many areas where living by the sea is more affordable, giving buyers a wider range of options depending on their budget.”
The analysis found that approximately 80 per cent of the seaside locations examined had average asking prices sitting below the national figure of £378,304.
At the opposite end of the scale, Sandbanks in Dorset retains its position as Britain’s priciest coastal destination, commanding an average asking price of £1.12million.
Here are the 10 seaside locations recording the strongest house price growth over the past year, according to Rightmove:
- Bootle, Merseyside – up 11 per cent (£141,680)
- Crosby, Merseyside – up nine per cent (£330,900)
- Penarth, South Glamorgan, Wales – up eight per cent (£433,081)
- Llantwit Major, South Glamorgan, Wales – up eight per cent (£340,033)
- Llanelli, Carmarthenshire, Wales – up seven per cent (£201,570)
- Wallasey, Merseyside – up seven per cent (£200,753)
- Bangor, Gwynedd, Wales – up seven per cent (£220,622)
- Porthcawl, South Glamorgan, Wales – up six per cent (£359,412)
- Barrow-in-Furness, Cumbria – up six per cent (£185,169)
- Helensburgh, Dunbartonshire, Scotland – up six per cent (£247,953)