Sandbanks has held on to its title as most expensive seaside town to buy a home for the third year running. The average price on the Dorset island is nearly £1.6million – a “steal” compared with the £2million that properties fetched in 2023. But for those who want to dip a toe into life by the coast, Saltcoats in Ayrshire is nearly 14 times cheaper. Homes there average £114,365.
Easington, Co Durham, was runner-up, selling at £122,520, then neighbouring Peterlee at £124,593. Rightmove, which crunched the numbers for its annual report, said Peterlee is positively up-and-coming with homes 15% dearer than a year ago.
The website’s Tim Bannister said: “Whilst the pandemic driven surge for seaside areas has calmed down and reversed back to more normal levels, areas around the coast continue to be popular.
“Particularly at this time of year, many people consider what a home by the sea and away from the hustle and bustle of a city could look like, or perhaps explore estate agents’ windows while on holiday.”
Sandbanks’ famous homeowners have included Harry Redknapp, Geoffrey Boycott and Liam Gallagher. And John Lennon used to holiday there with his Aunt Mimi after buying her a bungalow as a thank-you for bringing him up. Rightmove said the second priciest resort to buy into is nearby Canford Cliffs (£1.2m) then prices tumble with third-placed Milford on Sea, Hants (£751,442).
Steve Isaacs, director at Luxury and Prestige Realty in Poole, said: “The areas of Sandbanks and Canford Cliffs continue to be very popular, and prime waterfront properties in Sandbanks have been doing particularly well.
“Living in a beautiful location by the sea will always be appealing and is not to be underestimated.” But Nathan Emerson, of estate agents’ body Propertymark, said:
“Whilst many homeowners will no doubt be happy to see their homes increasing in value in these locations, many locals who aspire to one day live where they have grown up will be unable to do so as prices become further out of reach.