Burnham-On-Sea has this week been ranked as the UK’s seventh highest seaside property price hotspot.
The UK’s biggest property website Rightmove has unveiled a ranking of the top 10 seaside towns where property asking prices are rising fastest.
It says that more than two years on from the beginning of the pandemic, demand for homes in coastal areas is particularly strong.
Across all seaside locations in Great Britain, asking prices are up 13.9 per cent on average compared to last year, outpacing the national average of 9.9 per cent.
Rightmove has ranked Canford Cliffs in Poole, Dorset, as the top seaside price hotspot, with asking prices jumping 24% year on year.
Coming in at number seven is Burnham-On-Sea where our average house prices now stand at £298,938 – that’s up 20% year-on-year.
UK’s Seaside Top 10 Property Price Hotspots:
The list below from Rightmove shows the top 10 seaside price hotspots including the average asking price along with the average asking price growth year-on-year.
1. Canford Cliffs, Poole, Dorset – £1,223,180 up 24%
2. Brixham, Devon – £337,129 up 23%
3. Abergele, Conwy – £234,613 up 22%
4. Skegness, Lincolnshire – £201,976 up 22%
5. Ilfracombe, Devon – £266,353 up 22%
6. Gorleston-on-Sea, Norfolk – £224,066 up 21%
7. Burnham-On-Sea – £298,938 up 20%
8. Paignton, Devon – £286,188 up 20%
9. Dawlish, Devon – £296,286 up 19%
10. Ryde, Isle Of Wight – £292,003 up 18%
Rightmove director, Tim Bannister, told Burnham-On-Sea.com: “We’re in a unique position to be able to see activity across the whole of the market, which gives us a strong indication of how buyers are behaving in real time.”
“We know that demand, which we measure by enquiries to estate agents from prospective buyers on Rightmove, is often a lead indicator of price, and right at the start of the pandemic when the market re-opened, we saw a huge surge in demand for these coastal areas as people wanted a sea view or more space near the coast.”
“There have been large periods where demand has greatly outstripped supply over the last couple of years which has contributed to the significant rise in asking prices we’re seeing today.”
“Encouragingly, with new stock coming to market we are starting to see signs of a better balance of supply and demand in seaside areas than we were a year ago, and we’d expect this to filter through to the market and potentially moderate the pace of price rises in the coming months.”
