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Southwold is top coastal location to buy

Southwold has been rated as the top coastal location to buy by comparethemarket.com

This is based on the average rainfall, average temperature, beach quality score, average property price, annual property revenue, and daily property rental rate.

Southwold has the highest average rental revenue, at £115,689.

If you’re looking to invest in a seaside home with the aim of opening a B&B or hotel, then again, Southwold is your best option, with a daily property rate of £334.

Mark Gordon, director, money & mortgages, at comparethemarket.com, said: “When it comes to getting a mortgage for your second home it’s important to be clear with your lender what you are going to use the home for, whether that’s buying to rent or for a holiday home.

“If you opt for a holiday home you can then apply for a second residential mortgage to help buy your new home. If you are looking to escape the city and find yourself a second home by the sea, it appears the south of the UK would be your best bet, offering the great summer weather and higher revenue.

“However, although you may have to compromise a little on the sunshine, seaside homes in the North can be considerably cheaper yet still give a good return.”

The second highest rated location is Felixstowe, followed by Teignmouth, Folkestone and Bournemouth.

The lowest average property price is in Newbiggin-by-the-Sea at £93,749, while Weymouth has the lowest average rainfall at 35.9 mm.

Felixstowe has the highest summer temperatures, with an average July temp of 22.3ºC.

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