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Average prices in British seaside towns up 25% in last 10 years

Average house prices in British seaside towns have increased by 25% in the past decade with Sandbanks in Poole, on the south coast of England, the most expensive for a second year in a row.

But it is Fraserburgh on the North East coast of Scotland that has seen the largest growth over the same period with house prices almost doubling, according to the research from home lender the Halifax.

During the last 10 years, the average house price in seaside towns rose by 25% from £181,060 in 2007 to £226,916 in 2017, the equivalent to an average increase of £382 per month.

However, there is a marked north/south divide in property values in seaside towns, with nine out of 10 of the most expensive seaside towns on the southern coast of England.

Sandbanks in Poole remains Britain’s most expensive seaside town for the second consecutive year, where the average price of a home is £664,051, followed by Salcombe in South Devon at £617,743 and Aldeburgh in East Anglia at £526,689.

Outside southern England, the most expensive seaside areas are the Scottish towns of North Berwick at £314,435 and St Andrews at £300,319, followed by The Mumbles in South Wales at £284,804.

Scottish seaside towns have seen the greatest average house price growth in the last 10 years, with the average price in Fraserburgh in Aberdeenshire up 95% from £70,255 in 2006 to £136,889 in 2016, followed by Lerwick in the Shetlands up 77%. Shoreham by Sea on the South East coast of England saw growth of 70% and Aldeburgh in East Anglia 67%.

Average house prices in Aldeburgh, East Anglia increased by the greatest value from £315,641 in 2007 to £526,689 in 2017, some £211,048 or £1,759 a month, followed by Sandbanks up £162,852 or £1,357 a month.

Nine out of the 10 least expensive seaside towns are in Scotland. Port Bannatyne on the Isle of Bute is the least expensive seaside town with an average price of £71,550 with Campbeltown at £80,737, Girvan £85,082 and Millport £86,392. Newbiggin by the Sea in Northumberland was the least expensive seaside town in England with an average house price of £75,779.

‘Seaside towns are extremely popular places to live, offering sought after views and desirable weather. Being by the sea side does come at a price with the marked increase in house prices reflecting the demand,’ said Martin Ellis, Halifax housing economist.

‘Over the past decade, house prices in the South East, especially coastal towns within commutable distance to London, have shown strong growth and have become some of Britain’s most expensive seaside towns. However, the strongest performing coastal towns in terms of growth have been in Scotland,’ he added.