Sea views boost property market

Monday
12:42:23
August
25 2003

Sea views boost property market

The British do indeed love to be beside the seaside, it appears, with house prices on the coast outperforming other properties in the same region, according to a report.

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Halifax Estate Agents said more than 70% of properties surveyed in seaside towns in England and Wales had benefited from a premium for their seaside views.

Cornwall has enjoyed some of the highest increases of the past two years, which Halifax said was now forcing some buyers out of the market.

"These prices may be too high for most of those looking to relocate to the coast or buy a weekend hideaway by the sea," said the report.

Location, location

The most affordable seaside towns remain in the north of England, particularly the north east coastline. Properties in Dorset meanwhile command the highest prices, with an average price tag of -£400,000 for a sea view.

"A home by the sea is a dream for many people and it could also prove to be a good investment," said Jane Pridgeon, managing director of Halifax Estate Agents.

"However, if you're looking for a property with a great sea view you may have to be prepared to pay more than the average price as a good sea view will add a premium to the price of a property."

The report also highlights the significant gap between house prices within the same coastal region, dependent on the postcode.

The average house price in Plymouth, for example, in the south west of England, is -£110,752.

Further along the coast in the more desirable Sandbanks, average house prices have jumped to -£403,594.

Source by BBC


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