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Tidal Wave: some house prices up as much as 48 per cent in a year

The average price of a property in a British seaside town is now £265,978, a leap of 10 per cent - or over £24,000 - in just 12 months, according to the Halifax.

Salcombe in Devon is Britain’s most expensive seaside town, with an average house price of £950,325. Sandbanks in Poole is second on the list at £835,971.

St Mawes in Cornwall has seen the biggest increase in average prices of any seaside town over the last year, jumping by a remarkable 48 per cent from £339,912 to £501,638.

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Scotland dominates the list of Britain’s least expensive seaside towns – with Millport, on the Isle of Cumbrae, offering the most affordable properties at an average of just £74,148.

Over the last 10 years, the average house price in Britain's seaside towns has risen by 36 per cent from an average of £194,932 in 2011 to £265,978 in 2021.

Padstow in Cornwall - famous for Rick Stein’s restaurant empire - has seen the biggest average price rise of any seaside town over the last decade, jumping by over a quarter of a million pounds from £351,458 to £616,368.

“The housing market has experienced some dramatic changes over the past year, brought about by the impact of the pandemic. But one thing that remains constant is the Brits’ love of the seaside” says Halifax managing director Russell Galley.

“Properties in these towns have always been highly sought after – with residents prizing the picturesque scenery and coastal way of life – meaning a big price premium in the most desirable locations.

“As many people re-evaluate their work and lifestyle priorities, the south west has been a magnet for those drawn to a life by the water … However, more affordable options exist for those willing to move further north, with many towns on Scotland’s coastline offering great value for money.”

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    Have to look very closely at the underlying data here. Because....a quick check reveals St Mawes has under 10 listings for sale, averaging c.£2m. If over the next 6 moths, three of these "average" listings are sold, that makes the "average" selling price for the last 6 months £2m. Which suggests a 4x increase in today's "average" price of £501k. Yet in fact these listings could have been bought for an average of £2.1m 6 months earlier, making the area actually an area of true falling prices, not rising.

    People aren't moving to Cornwall to live in studio flats.

    You can find a statistic for everything. Between Darren Gough and I, we've taken 453 wickets for Yorkshire.

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