Seaside homes double in price

Seaside prices double

Seaside prices double

A Halifax bank survey has revealed the cost of owning a home by the sea has more than doubled in the past ten years.

Seaside homes have seen on of the biggest house increases as the survey revealed that seven in ten seaside towns had seen prices increase by more than the national average in the last decade.

Top of the increases was a small town called Wadebridge in Cornwall, where the average price had increased from £100,406 to £370,902.

Also seeing huge increases were Maryport in the Lake District and Tenby in Wales.

Six of the ten towns that had seen the biggest increases were in Wales or the north of England.

The ten most expensive seaside towns remain in the south of the country, with Sandbanks in Dorset followed by Padstow in Cornwall.

Sandbanks remains one of the most expensive places in the world with the average home costing £532,652 whilst the average house price in Padstow is £381,916.

The highest average price outside of England is the £363,494 average house cost in Mumbles just outside Swansea.

Housing Economist from Halifax, Nitesh Patel explained, “Seaside towns have always been popular places to live, but they have perhaps become even more so in recent years.

“This is certainly true if we take house prices as an indicator of desirability.”

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