Cost of a home by the sea soars by more than £22,000 with Lymington and East Wittering topping the UK’s priciest properties list

NEW research shows that the average price of a home by the sea has jumped by more than £22,000 - with two local towns topping the list for priciest properties.

Saturday, 16th April 2022, 4:55 am

Coastal property values have been boosted by the switch to home working during the pandemic, according to a report by lending giant Halifax.

This says that the average value of a British seaside property rose to £287,087 last year, up eight per cent or £22,082 from 2020.

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Aerial shot of East Wittering & Bracklesham Picture: Google Earth

Sandbanks in Dorset was the most expensive seaside town, with average prices surging 10 per cent year-on-year to £929,187, the analysis of Land Registry house price data showed.

It was followed by Salcombe in Devon in second place, down from pole position in 2020, with a typical property costing £912,599, as the south west dominated the ranking.

However, local towns Lymington and East Wittering feature on the top ten list of Britain’s most expensive seaside towns according to Halifax.

While the average house price for East Wittering (£472,364) places the area at number nine on the list, Lymington sits at number four with an average price of £565,790.

Russell Galley, managing director of Halifax, said: ‘Our ongoing love affair with living by the sea shows few signs of abating.

‘Homes on the coast have long attracted a premium price, and this was no different in 2021, with the move towards working from home being an ongoing influence on where people choose to live.

‘Whether it’s a lifestyle sought, the scenery or the sea air, when it comes to buying homes, we really do love to be beside the seaside.’

Last year’s price gains mean properties by the sea have soared by 50 per cent or £95,599 over the past decade, with a 27 per cent leap in the past five years.

Many Britons have looked to buy in more remote locations and move away from cities in the past two years as the pandemic saw a shift towards working from home.

Over the past decade, Margate in Kent has seen the biggest average price rise of any seaside town, with prices jumping by 98 per cent or £139,814, from £142,920 to £282,734.

Nine of the 10 least expensive placesby the sea are in Scotland, with Campbeltown in Argyll and Bute, seeing houses sell on average for £91,201.