Beside the seaside

Homes in coastal locations are still commanding a premium and are outpacing the national average when it comes to price increases.

New analysis from property platform Rightmove, reveals that the average asking price of a home with a sea view now stands at £298,810, up from £235,635 in 2019.

This is an increase of 27 per cent, outpacing the national average of 22 per cent over the same period, showing the enduring appeal of coastal living.

The analysis looked at over 200 coastal areas, comparing the average asking price of homes in these areas when a sea view was available, compared with those without a sea view.

While the highest sea view property prices are still concentrated in southern coastal regions, some of the strongest growth over the past seven years has come from elsewhere.

In the East Midlands, average sea view asking prices have increased by 55 per cent from £228,083 to £352,789, while Yorkshire and The Humber has seen an increase of 53 per cent, from £160,771 to £245,119.

Here in the East, there has been an increase of 23 per cent – a rise from £289,371 to £355,319.

The South East is Britain’s most expensive region for a home with a sea view, with an average asking price of £416,375, followed by the South West at £398,764.

In contrast, Scotland is the most affordable region for sea view homes, with an average asking price of £166,068.

While sea views can also command a significant premium in many coastal markets, the impact varies by location.

Here in Norfolk, for example, properties to the north of the county have traditionally been sold for higher prices than those by the sea to the east.

In West Mersea, Essex, homes with a sea view have an average asking price of £655,479, compared with £433,185 for coastal homes overall – a difference of £222,294, or 51 per cent.

Frinton-on-Sea in Essex (£130,699) and Broadstairs in Kent (£128,943) have the next largest sea view premiums, while buyers in Littlehampton, West Sussex, pay an average £120,696 extra for a sea view property.

Rightmove’s property expert Colleen Babcock says: “A sea view has long been seen as one of the most desirable features a home can offer, and our latest analysis shows buyers are willing to pay a significant premium for one.

“While some of Britain’s most prestigious coastal locations continue to command the highest prices, we’re also seeing notable growth in more affordable seaside areas, suggesting that sea-view homes are becoming increasingly valuable across a wider range of the market.

“For buyers, it highlights the importance of considering not just the property itself, but the lifestyle and setting that come with it.”