Seafront homes command a 33% price premium

Jackson-Stops looks at how direct access to the beach/sea affects property prices

Homes with direct seafront access are a third more expensive than comparable non-seafront properties, according to some end-of-Summer research by newly-branded estate agency Jackson-Stops.

Aldeburgh in Suffolk commands that highest seafront price premium of the 30 seaside locations looked at for this press release (using Zoopla data); homes with direct access to the water here are, on average, 89% more expensive than the wider town. Padstow in Cornwall (70%) and Torquay in Devon (69%) take the second and third spots.

Top 10 seaside locations with the largest seafront house price premium

 

 

 

Ranking

 

 

 

Area

Average house price in the area for 3+ bed (£)(rounded to the nearest 1,000) Average house price on the seafront for 3+ bed (£) (rounded to the nearest 1,000) Premium (based on median house prices, not rounded)
1 Aldeburgh, Suffolk 344,000 650,000 89%
2 Padstow, Cornwall 381,000 650,000 70%
3 Torquay, Devon 269,000 455,000 69%
4 Bournemouth, Dorset 354,000 592,000 67%
5 Heswall, Cheshire 354,000 592,000 67%
6 Southwold, Suffolk 650,000 1,050,000 62%
7 Tenby, Pembrokeshire 291,000 463,000 59%
8 Lymington, Hampshire 600,000 888,000 48%
9 Sandbanks, Dorset 1,636,000 2,300,000 41%
10 Bude, Cornwall 349,000 475,000 36%

Seafront homes premium in all 30 seaside locations analysed by Jackson-Stops

Area Average house price in the area for 3+ bed (£) (rounded to the nearest 1,000) Average house price on the seafront for 3+ bed (£) (rounded to the nearest 1,000) Premium (based on median house prices, not rounded)
Aldeburgh, Suffolk 344,000 650,000 89%

Most popular seafront street in Aldeburgh is Crag Path

Padstow, Cornwall 381,000 650,000 70%
Torquay, Devon* 269,000 455,000 69%

Most popular seafront streets in Torquay: Thatcher Avenue and Ilsham Marine Drive.

Bournemouth, Dorset* 354,000 592,000 67%
Heswall, Cheshire 354,000 592,000 67%
Southwold, Suffolk 650,000 1,050,000 62%
Tenby, Pembrokeshire* 291,000 463,000 59%
Lymington, Hampshire 600,000 888,000 48%
Sandbanks, Dorset 1,636,000 2,300,000 41%
Bude, Cornwall* 349,000 475,000 36%
Southend-on-Sea, Essex 363,000 494,000 36%
Whitby, Yorkshire* 214,000 291,000 36%

Most popular seafront streets in Whitby: Church Street, Henrietta Street and Sandgate.

Blackpool, Lancashire 130,000 174,000 34%
Hove, East Sussex 650,000 825,000 27%
Worthing, West Sussex 383,000 483,000 26%
Margate, Kent* 303,000 376,000 24%
Newton Ferrers, Devon 525,000 650,000 24%
St Ives, Cornwall* 458,000 561,000 23%

Most popular seafront street in St Ives: Hain Walk.

Brighton, East Sussex* 486,000 593,000 22%
Scarborough, North Yorkshire 188,000 230,000 22%
South of Chichester, West Sussex 364,000 438,000 20%

East Strand and West Strand are the most popular streets in The Witterings.

Weston-super-Mare, North Somerset 244,000 290,000 19%
Deal, Kent 289,000 330,000 14%

Most popular seafront streets in Deal: Marine Road, The Strand, Marine Parade and Beach Street.

Budleigh Salterton, East Devon 425,000 469,000 10%

Most popular seafront street: Fore Street Hill.

Salcombe, Devon* 1,117,000 1,233,000 10%
Weymouth, Dorset* 275,000 295,000 7%
Skegness, Lincolnshire* 183,000 197,000 7%
Wells-next-the-Sea, Norfolk 494,000 525,000 6%
Topsham, Devon 454,000 463,000 2%

Most popular seafront streets: The Strand and Ferry Road.

New Quay, Ceredigion 283,000 288,000 1%
Average seafront premium across all locations: 33%

* Asterisked locations are in the World Travel Guide’s “12 of the best British Seaside Towns”

Nick Leeming, Chairman at Jackson-Stops: “Owning a sea-front home with uninterrupted waterside views or access to the beach has long been an aspiration for the British buyer. Whether it is someone’s full-time residence or a holiday home to enjoy during the summer months it is clear buyers are willing to go the extra mile to secure their dream home by the sea. From Aldeburgh in Suffolk to Blackpool in Lancashire, buyers are paying on average 33% more for the privilege of living on the front row, compared to how much they would pay for a property just one street further back.

“The lifestyle benefits associated with living by the seaside means that waterside homes will often generate a strong price premium, regardless of their distance from the beach. Sailing, surfing, swimming, and taking in the fresh sea air, are all favourite British past times for families and downsizers alike. Yet, there is something very special about being able to look out of your kitchen window or step outside your front door and be immediately greeted by sandy beaches and the rippling of the tide.”

Jonathan Penn, Director at Jackson-Stops’ Ipswich branch, on the appeal of seafront homes in Aldeburgh: “Properties on the seafront are extremely sought-after and will typically command a strong price premium. For example, we recently sold a four bedroom terraced property on the popular beachfront street Crag Path for in excess of its asking price of £1.5 million. Across three weeks we had 20 viewings, well above average, and offers from five interested parties, and it eventually went to best and final offer. Such interest just goes to show the strength of demand for front row properties in Aldeburgh.

“Aldeburgh itself is a renowned UK seaside hotspot and the residential property market is currently very strong, driven by a high demand from both holiday home buyers and those looking for a full-time residence. It has all the amenities holiday makers desire, such as the classic east coastline, pubs, restaurants, a tennis club, a golf club and a yacht club, but also all the essential facilities that make it a great self-contained place to live including supermarkets, a high street with a decent range of shops and its own hospital. The blend of aspirational lifestyle and practicality is what makes this town so popular.”

Some seafront properties