Salcombe in Devon tops list of most expensive place to buy a seaside home in the UK - see full list
Salcombe has been crowned the most expensive place in Britain to buy a seaside home on a list dominated by south coast locations.
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Salcombe has been named the most expensive seaside town in Britain to buy a home. Swapping places with Sandbanks in Dorset for the top spot, the average house price in the Devon resort town was just over £1.2 million in 2022 according to an analysis by Halifax.
Analysing house price data for 12 months leading up to December 2022, Halifax looked at 209 coastal locations in total. All but one town on the top 10 is located on the south coast, with Aldeburgh in Suffolk being the one exception coming in at number 3.
Joining Salcombe and Aldeburgh on the list is Sandbanks, last year’s number 1, Padstow, Lymington and Yarmouth. But even among the most expensive, the average price differs by a large margin, with the average house price in Salcombe at £1,2 million and number 10 Budleigh Salterton just over £500,000.
According to Halifax’s study, the price of coastal homes in the UK increased by 56 percent between 2012 and 2022. From an average of £195,509 to £304,460 in just a decade.
Kim Kinnaird, mortgages director at Halifax, said: “For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits. But this comes at a price in many locations and Britain’s most expensive seaside spot, Salcombe in Devon, will set buyers back over £1.2 million on average.
“When we delve deeper into the cost of Britain’s seaside homes, it’s clear that there is a broad spectrum in house prices. Whilst million-pound properties are abundant in the south west of England, in contrast, homes in Greenock in Scotland are valued on average at less than £100,000.
“Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations. While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play. Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore."
The 10 most expensive locations in the UK to buy a seaside home:
- Salcombe, Devon, South West, £1,244,0252
- Sandbanks, Dorset, South West, £952,6923
- Aldeburgh, Suffolk, East of England, £794,4924
- Padstow, Cornwall, South West, £790,8475
- Lymington, Hampshire, South East, £663,4746
- Yarmouth, Isle of Wight, South East, £611,8167
- Dartmouth, Devon, South West, £567,9858
- Kingsbridge, Devon, South West, £556,6599
- Wadebridge, Cornwall, South West, £548,66910
- Budleigh Salterton, Devon, South West, £537,68