9
Jun
Luxury coastal properties proving popular with Brits
As summer begins it seems an increasing number of people want to
feel like they are on holiday all year round by living by the
sea.
Coastal properties are being snapped up by savvy buyers and it is
easy to see why. With beautiful views and a relaxed pace of life,
seaside towns have a lot to offer luxury property buyers.
And it seems that people are already buying up seaside properties,
with data from Halifax showing that house prices at least doubled
between 2001 and 2009 in almost half of the UK's seaside towns.
Across all seaside areas, average house prices rose by 92 per cent
across this period, compared to an 81 per cent rise for the UK as a
whole.
Just taking the past few years into account, prices did drop in
many seaside towns between 2007 and 2009, however from 2008 many
areas started to lead the housing price recovery, with some
recording price rises of up to ten per cent.
Commenting on the trend, Martin Ellis, a housing economist for
Halifax, said: "Living on the coast offers many attractions,
including a typically high quality of life and attractive
surroundings. As a result, property in seaside towns is often very
popular with homebuyers."
"Whilst property in seaside towns can be more expensive than
elsewhere, exceptional value for money can still be found for those
searching to realise their dream of living near the sea," he
added.
But where is the best place to buy?
Halifax's research found that holiday hotspots such as Padstow in
Cornwall and Sandbanks in Dorset are among the priciest areas to
live in.
In 2009, average house prices in Sandbank stood at £544,951,
while house prices in Padstow increased by a massive 211 per cent
over 2009, rising from £135,677 to £421,954.
All of the priciest seaside towns were located in the south-west of
the UK, around popular tourist destinations Cornwall and Devon.
While these places may be more expensive, they do offer great
investment opportunities, with prices rising and the potential for
high rents, especially during the summer months.
However, people wanting a slightly cheaper luxury coastal property
should be heading to the north of England, with properties in the
Yorkshire coastal town of Withernsea costing an average of
£91,360.
What should you be looking for in a coastal property?
Once people have decided what region they want to purchase their
dream luxury seaside property in, it is important to decide what
kind of house they want, a country cottage, a seafront townhouse or
something with character like a renovated barn.
However, the thing that most house hunters buying property near the
coast agree on is that they want sea views. The ultimate luxury
properties have stunning views, however, when choosing a new home
it is worthwhile visiting the property at various times of day to
see how tidal patterns affect the view and ensure it is still as
breathtaking when the tide is out.
It can also be advisable to choose a coastal property in lesser
known seaside towns which are near larger centres such as Padstow
and St Ives. This way, luxury homebuyers get the best of both
worlds as they can enjoy the amenities of busier areas without
having to cope with lots of tourists during peak season.
While escaping to a coastal property is many people's dream, the
reality is that many people will still have to commute to work,
therefore it is important to consider the transport links offered
by various towns and villages and if there is a nearby city people
can commute to.
