Living by the sea is a dream that many people in the UK aspire towards and with over 12,000 kilometres of coastline there is no shortage of homes for those wishing to live by the seaside.
But doing so will cost on average 10.5% more than buying a home inland while in some coastal hotspots the price premium is more like 25%, according to research from property firm Savills.
But in some locations they are even higher. In St Andrews in Fife, Scotland, the attractions of the coast alongside its world famous golf courses means that average prices were £295,000 in 2016. Some 77% higher than the Scottish average.
In the North East of England overall property prices are lower than many other regions but the premium for a property within 100 meters of the coast is 24.8% and in popular locations such as Whitley Bay prices average £260,000.
Further down the East coast in Yorkshire while average prices are also low the coastal premium in sought after locations such as Whitby and Scarborough is 21.3% with an average price of £208,000.
The South West of England has some of the most expensive coastal properties in the UK but other prices are high too and the coastal premium is 16.2%, lower than Scotland, the North East and Yorkshire, but higher than inland. In Sandbanks, Dorset, average prices for the best properties are £1.3 million.
The research also shows that in London the River Thames also acts as a draw. Between Teddington Lock and the Royal Docks the average price for an apartment within 100 meters of the water is £595,000 a 19% premium over similar flats nearby.
There is also a stiff premium in Wales with prices in popular places such as Conway on the north coast and Penarth in the Vale of Glamorgan averaging £276,000, some 19.6% higher than inland properties.
The price very much depends on location. In the East of England, which includes the industrial ports of Lowestoft and Felixstowe, the average value of coastal homes is £231,419, some 2% lower than those located further inland.
However for buyers seeking to move to the prime coastal towns of Aldeburgh and Southwold, the average price of a home stands at £374,000, well above the average for the region.
