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Money Blog: The most expensive way to buy a seaside house in the UK revealed | UK News
Britain’s most expensive coastal locations revealed – and they’re all in one region
Salcombe in Devon has been named the most expensive place in the UK to buy a house by the sea.
Properties in the city cost an average of £970,657, according to Lloyds Bank.
Although it’s down 22% (or £270,641 in cash terms) since 2022, when they cost more than £1.2 million, it’s still around nine times the price of a house in the cheapest coastal area – Rothesay on the Isle of Bute , in the east of Scotland. .
Properties here cost an average of £101,477.
Affluent Sandbanks in Dorset, home to famous residents including Harry Redknapp, is the second most expensive, with an average price of £957,739.
In fact, all of the top 10 are in the Southwest.
Padstow in Cornwall, with its renowned Rick Stein seafood restaurant, is third, with houses costing around £701,979.
“These more expensive areas can result in a lack of affordable homes for first-time buyers, a problem often compounded by high levels of second home ownership, meaning many who grew up in the area could find themselves forced to miss out. owning your own home. home locally,” said Amanda Bryden, head of mortgages at Lloyds Bank.
The average coastal home now costs £293,710, 4% less than in 2022 but 48% higher than 10 years ago, Lloyds Bank said.
Coastal properties in Margate in the South East and Amlwch in Wales have more than doubled in the last decade to £309,049 and £255,189 respectively.
All 10 cheapest coastal locations are in Scotland…