Sunday, July 7, 2024

The six-mile move that knocks £130k off seaside property prices

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In Northumberland, the difference is even steeper. Homes in coastal Bamburgh cost an average £403,500. Just 16 miles away, in the equally beautiful but landlocked market town of Alnwick, average prices are 30pc lower at £284,330.

A study of 10 pairs of coastal and nearby inland locations – comparing surf with turf – found that seaside was more expensive than land-locked in the majority of cases, representing significant savings for those prepared to live not quite on the coast.

This anomaly represents a conundrum for Weeks. Before the move, she and her ex were renting a four-bedroom detached cottage in Huntsham, Devon, an hour’s drive from the beach.

But although the Huntsham property was “twice the size” of her current home, it was also considerably more affordable – renting at £955 per month compared to the £1,600 she pays now.

Weeks is now house hunting with her new partner, but they are struggling to find anything to buy within their budget of £500,000 to £600,000. She knows that if she were to move inland the story would be different, but is reluctant to move too far from the sea.

“It is a difficult situation,” she says.

The Hamptons research found that while most seaside towns were more expensive, there were some exceptions. 

In Sussex, for example, the town of Hurstpierpoint, where many homes are large and detached, is more expensive, at an average £646,100, than coastal Brighton, 10 miles away. But this difference is due to the varied housing stock – the presence of plenty of flats in Brighton brings the local average price down to £516,130.

Along the coast in Dorset, the seaside reigns supreme. At an average £372,000, homes in Weymouth, Dorset, with its pretty harbour and access to the West Dorset Heritage Coast, are significantly more expensive than those in the beautiful town of Dorchester. Eight miles – or a 13 minute train hop – inland, average prices drop to £324,000.

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