Analysis by park house promoting specialists Quickmove Properties, has revealed which of Britain’s favorite seaside areas are house to essentially the most unique coastal housing markets, with home value premiums sitting as excessive as 89% when in comparison with the broader areas wherein they’re positioned.
Quickmove Properties analysed property costs in 100 of Britain’s favorite seaside cities, taking a look at how they examine to the broader native authority, earlier than revealing the 32 most unique that command a home value premium.
The analysis exhibits that, on common, residing in one in every of these 32 unique coastal areas will set you again £375,186, 19% greater than the typical value 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 value within the TQ8 postcode coming in at £739,455, 89% larger than the typical price of a house in South Hams.
The Dorset postcode of BH13, house to the distinguished seaside group of the Sandbanks, can be house to a mean home value of £599,547. That’s 71% larger than the broader common of £350,505 discovered throughout Bournemouth, Christchurch and Poole.
Padstow ranks third, with houses 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 price of simply 5.5% within the final 12 months, many of those unique coastal cities have far outperformed that nationwide common. Porthcawl has seen a rise within the common home value of 12.8% over the past 12 months, with Abersoch (+11.3%), Tenby (+10.9%) and Bigbury on Sea (+10.3%) additionally seeing double digit charges of progress.
Nevertheless, there may be one reasonably priced route to buying a property inside Britain’s most unique seaside cities. Lots of Britain’s finest park house developments are largely discovered throughout coastal areas and may supply a considerably extra reasonably priced pathway to coastal homeownership.
Gross sales Director at Quickmove Properties, Mark O’Dwyer stated, “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 value premium as a result of excessive demand and restricted inventory.
Places resembling Salcombe, the Sandbanks and Padstow are amongst a number of the most unique and command value 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 seaside adjoining property is past their attain however for these seeking to downsize of their later years, there’s a extra reasonably priced possibility that enables a coastal way of life with out compromise.
Many trendy park house developments are sited on former vacation parks, throughout a number of the nation’s finest coastal areas. Park house residents typically describe the life-style 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 house sits £80,000 beneath the worth of a bricks and mortar house 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 houses on the market.
So if you wish to really feel the sand between your toes with out spending over the percentages, a park house is actually a worthwhile consideration.”