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Seaside property hotspots where prices are rising fastest

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UK house hunters continue to show their love of the coast and Poole’s affluent suburb of Canford Cliffs has seen asking prices rise more than any other seaside area in the past year.

The Dorset hotspot saw newly listed asking prices jump 24% last month from a year earlier, reaching more than £1.2million on average, according to Rightmove.

More than two years after the start of the pandemic, the desire for more open spaces does not seem to stop, especially near the seaside.

Across all of Britain’s seaside resorts, asking prices are up 13.9% on average from last year, beating the national average of 9.9%.

Rightmove revealed the coastal areas where asking prices rose the most over the past year to April

Rightmove revealed the coastal areas where asking prices rose the most over the past year to April

Canford Cliffs has seen coastal asking prices rise the most: This five-bed house in the affluent suburb of Poole is up for sale for £2.2million via Savills estate agents

Canford Cliffs has seen coastal asking prices rise the most: This five-bed house in the affluent suburb of Poole is up for sale for £2.2million via Savills estate agents

Residents of the rich Canford Cliffs in Dorset enjoy easy access to beautifully manicured sandy beaches on the south coast

Residents of the rich Canford Cliffs in Dorset enjoy easy access to beautifully manicured sandy beaches on the south coast

COASTAL AREAS WITH THE HIGHEST INCREASES IN ASKING PRICE OVER THE PAST YEAR
Location Average Asking Price April 2022 Average Asking Price April 2021 Annual Average Asking Price
Canford Cliffs, Poole, Dorset £1,223,180 £987,752 24%
Brixham, Devon £337,129 £274,944 23%
Abergele, Conwy (County of) £234,613 £191,603 22%
Skegness, Lincolnshire £201,976 £165,758 22%
Ilfracombe, Devon £266,353 £219,154 22%
Gorleston, Great Yarmouth, Norfolk £224,066 £185,066 21%
Burnham-On-Sea, Somerset £298,938 £248,432 20%
Paington, Devon £286,188 £239,183 20%
Dawlish, Devon £296,286 £249,755 19%
Ryde, Isle of Wight £292,003 £246,454 18%
Source: Rightmove

In second place is the fishing town of Brixton, Devon, where asking prices have risen by 23% over the past year.

And the Welsh market town of Abergele in Conwy is in third place, with asking prices up 22% in a year.

Demand for homes has outstripped the supply of homes for sale in many parts of Britain and coastal areas are no exception.

Competition for beachfront homes over the past year means the pace of the market has picked up.

The average time to find a buyer by the sea is 33 days, and on average, houses find buyers 20 days faster than last year.

This Grade II listed terrace property in Brixham in Devon has two bedrooms and is on sale for £355,000 via estate agents Eric Lloyd & Co

This Grade II listed terrace property in Brixham in Devon has two bedrooms and is on sale for £355,000 via estate agents Eric Lloyd & Co

For those on a budget looking in Canford Cliffs, this two-bedroom apartment is on sale for £825,000 via Key Drummond Estate Agents

For those on a budget looking in Canford Cliffs, this two-bedroom apartment is on sale for £825,000 via Key Drummond Estate Agents

This four-bedroom semi-detached property in Abergele - a market town on the North Wales coast - is on sale for £235,000 via estate agents Peter Large

This four-bedroom semi-detached property in Abergele – a market town on the North Wales coast – is on sale for £235,000 via estate agents Peter Large

Steve Isaacs, of Luxury & Prestige Properties in Canford Cliffs, said: “Like many coastal areas, we have been incredibly busy for a long time and we are still seeing very high demand to move to this part of Dorset.

“One of the main things we’ve noticed influencing moves is that work habits have changed. We’re seeing a lot of people wanting to buy bigger homes now that they’re spending more time working from home, and we’re also seeing new types of buyers looking to Canford Cliffs from outside the area now that their work is become more flexible.

“Whereas before the pandemic we had a lot of people interested in a holiday home, we are now seeing more people looking for a property in which they can comfortably spend a good part of the year and work.

“With more demand than available homes, we have seen strong competition between buyers, which has contributed to price growth. One of the advantages of Canford Cliffs is its easy access to London and other parts of Britain, and some buyers have chosen the area because of this.

This modern three-bedroom house in Canford Cliffs is on the market for £785,000 and is being sold by Tailor Made estate agents

This modern three-bedroom house in Canford Cliffs is on the market for £785,000 and is being sold by Tailor Made estate agents

This apartment in Canford Cliffs has three bedrooms and is on the market for £555,000 through estate agents Frost & Co.

This apartment in Canford Cliffs has three bedrooms and is on the market for £555,000 through estate agents Frost & Co.

This detached four-bedroom property in Gorleston-on-Sea in Norfolk is on the market for £585,000 and is being sold by Yopa estate agents

This detached four-bedroom property in Gorleston-on-Sea in Norfolk is on the market for £585,000 and is being sold by Yopa estate agents

Rightmove’s Tim Bannister said: ‘From the start of the pandemic when the market reopened, we saw a huge increase in demand for these coastal areas as people wanted sea views or more space near on the side.

“There have been long periods where demand has greatly exceeded supply over the past two years, which has contributed to the significant rise in asking prices we are seeing today.

“Encouragingly, with new stocks coming onto the market, we are starting to see signs of a better balance between supply and demand in beach areas than a year ago, and we expect until this trickles down to the market and potentially moderates the pace of price increases in the coming months.

This four-bedroom detached house in Skegness - a seaside town in Lincolnshire - is on sale for £325,000 via Willsons estate agents

This four-bedroom detached house in Skegness – a seaside town in Lincolnshire – is on sale for £325,000 via Willsons estate agents

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