City living is now more popular than coastal living

Five years on from the beginning of the pandemic, many of the coastal and city trends that took place have now reversed.

According to property portal Rightmove, more of us would now rather live in the city than by the sea.

Lockdown restrictions, hybrid working and a general re-assessment of living priorities meant a surge in popularity for areas by the coast and countryside in the pandemic years.

In March 2021, Cornwall overtook London as the most searched for area on Rightmove for the first time.

At the same time, Londoners were increasingly looking to leave the capital.

In March 2021, less than half (47 per cent) of potential home-buyers in London were looking to stay in the capital, versus 59 per cent the year before.

Now, London is once again the most searched for location on Rightmove, and the majority (58 per cent) of people living there are looking to stay rather than leave.

The speed at which homes in coastal areas are finding buyers has slowed, from an average time of 52 days in 2021, to 73 days in 2025.

The time to find a buyer in London has gone from 63 days in 2021, to 65 days now.

Across a sample of more than 100 coastal areas in Great Britain, the average asking price for a home near the sea increased by 4.5 per cent in March 2021 compared to the year before when the pandemic began.

This was nearly double the 2.7 per cent yearly growth seen across the whole of Great Britain over the same period, as demand rose.

Now, in 2025, average asking prices have risen by one per cent across coastal areas compared to last year, in line with the rest of Great Britain, as competition between buyers has cooled as supply has increased.

Since March 2020, the average asking price of a typical first home has increased by 17 per cent, from £195,463 to £227,965.

Meanwhile, over the last five years, average wages have grown by 30 per cent.

This suggests that first-time buyers have more borrowing power than five years ago, as the amount they are likely to be able to borrow from a lender has increased by more than house prices.

However, other measures suggest things have become more challenging for first-time buyers.

Average rents have increased by 42 per cent over the last five years, outpacing wage growth and making it challenging for renters who want to become first-time buyers and are trying to save up for their deposit.

The average five-year fixed mortgage rate is now 4.73 per cent, more than double the 2.15 per cent it was five years ago – this means first-time buyers are having to pay more on their monthly mortgage.

The average monthly mortgage payment for a first-time buyer is now £949, compared to £590 five years ago, assuming a first-time buyer has been able to save up a 20 per cent deposit and is taking out a five-year fixed mortgage.

Over the last five years, semi-detached and detached houses have risen the most in price, compared with a smaller increase for flats, suggesting there is still a premium for having more space.

Steve Pimblett, Rightmove’s chief data officer said: “Five years on from the pandemic, many short-term trends brought about by the unique circumstances of lockdown have reversed.

“Coastal homes are taking longer to find buyers and price growth has stabilised as more supply has come onto the market, some likely from movers heading back to the city.

“At the same time, fewer people are looking to escape cities, as life has returned to normal, and the debate continues about remote versus office working.”