What would you pay for a sea view?

New research reveals that buying a home with a sea view can come with a significant price premium.

According to property portal Rightmove, British homes with a sea view are, on average, £88,106 more expensive than those without, representing a 32 per cent price premium.

The average asking price for a home with a sea view stands at £363,181, compared to £275,074 for properties in coastal areas without this coveted feature.

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.

At a regional level, the East Midlands leads the charge, with homes with sea views here the most expensive, averaging £428,330.

Following in second is the South West with a 44 per cent premium, and Scotland is a close third at 43 per cent.

Aside from being the region with the second highest sea view price premium, Torbay in Devon is also the area with the highest number of available homes listed with a sea view.

The East, where the average asking price for an inland home is £242,443, comes in at number seven, with sea view properties here seeing a price premium of 25 per cent.

Colleen Babcock, property expert at Rightmove, says: “Sea views have always been a highly sought-after feature for homebuyers, and our latest research highlights just how much more people are willing to pay for one.

“The East Midlands claims top spot as the region with the highest price premium for homes with a sea view at 68 per cent, compared to homes with a sea view in the South East, which has a much lower sea view premium of 22 per cent.”