Lossiemouth: Coastal Housing Market Surges, Outperforming Wider MarketLossiemouth: Coastal Housing Market Surges, Outperforming Wider Market According to recent analysis, house prices in coastal areas of Britain have seen a significant increase, rising by 4.2% in the past 12 months. This trend contrasts with the broader housing market, where prices have remained largely unchanged. Quickmove Properties, a specialist in over-50s property, reports that the average house price in 100 coastal locations in the UK now stands at £250,644. This represents a sharp contrast to the national average price in Britain, which has risen by a mere 0.8% over the same period. The coastal hotspots surveyed have also outperformed their respective local authorities in terms of house price growth. While these local authorities have experienced zero growth on average, the coastal areas within them have shown impressive increases. Significant Price Hikes in Scottish Coastal Towns The five most significant coastal price increases were recorded in Scotland, led by Lossiemouth with a remarkable 19% growth. Other Scottish coastal towns with substantial increases include Burntisland (17.9%), Irvine (16.2%), Ayr (14%), and Cockenzie (13.1%). Two other coastal markets achieved double-digit growth: Portmeirion in Wales, where prices rose by 11.7%, and Newquay in Cornwall, with a 10% increase. Appeal of Coastal Living Drives Demand Mark O’Dwyer, Sales Director at Quickmove Properties, attributes the surge in coastal house prices to the enduring allure of seaside living. “The British coast has been captivating homebuyers for centuries, from the rugged shores of Scotland to the tranquil beaches of Cornwall,” he says. Despite the high cost of coastal property, O’Dwyer suggests an alternative for those seeking seaside living without breaking the bank. “For a fraction of the price, you can purchase a modern park home in a prime seaside location and still have ample funds from your previous home sale to enjoy all that coastal living offers,” he advises.
House prices in Britain’s hottest coastal housing markets have risen by 4.2% in the past 12 months, the latest analysis shows.
The over-50s property specialist found that the current house price in 100 UK coastal locations averages just over a quarter of a million pounds (£250,644) and has risen by 4.2% in the past year alone, says Quickmove Properties.
STARRY CONTRAST
That is in stark contrast to the wider story, where the overall average price in Britain has remained largely unchanged, rising by just 0.8% over the past year.
Meanwhile, average house price growth in the local authorities in which these coastal hotspots are located has also remained unchanged over the past year at 0.04%.
Portmeirion: Prices increased by 11.7%
Nine in ten (92%) coastal markets recorded rising house prices over the past twelve months, with only one location remaining static.
The five biggest coastal price increases have all been recorded in Scotland, led by 19% growth in Lossiemouth (main photo) and followed by Burntisland (17.9%), Irvine (16.2%), Ayr (14%) and Cockenzie ( 13.1%). .
Two other coastal markets also achieved double-digit growth: in Portmeirion, Wales, prices rose by 11.7% and in Newquay by 10%.
House prices
Mark O’Dwyer, Sales Director, Quickmove Properties
Mark O’Dwyer, Sales Director at Quickmove Properties, says: “The British coast has been attracting homebuyers for centuries. From the wild coasts of Scotland to the calm beaches of Cornwall, many of us long for seaside living.
“Such is the appeal of coastal living that many local house prices stand as stoic as a lighthouse in a storm against broader negative trends in the national market.”
He adds: “But this often makes the cost of buying bricks and mortar on the coast high and therefore inaccessible for far too many people.
“For a fraction of the price you can buy a beautiful modern park home in a prime seaside location and still have plenty of money left over when you sell your old house so you can enjoy all that coastal living has to offer.”
