The property market may have been on hold for months due to the coronavirus lockdown, but now that it has reopened new trends are emerging. The pandemic has caused potential buyers to rethink their priorities, with data revealing that they are favouring outdoor space and bigger homes over central locations. The latest statistics from Right Move reveal that more Britons than ever are looking to buy a home by the sea.
Three towns in Cornwall made the top ten – Padstow, Newquay and Bude – and they’ve also seen some of the biggest price rises in the past twelve months.
However, the Cornish towns’ average paled in comparison to Devon, where a seaside home in Salcombe will set you back £730,213 on average.
Devon house hunters are also opting for Ilfracombe, which made the top ten at a much more affordable £203,620.
The property experts revealed the most expensive coastal town in the UK is Sandbanks in Poole, with average asking prices of over £1.2million – though it has dropped by one percent in the last year.
Estate agents have revealed why they think Whitby has topped the charts for the most in-demand seaside homes.
Nick Henderson, Director of Hendersons estate agents in Whitby said: “One of the great things about Whitby is that there’s usually something going on all year round, it’s not just when the sun is shining.
“Since we reopened a few weeks ago we’ve been selling bigger homes a lot more quickly than before, as families are changing the way they live and are swapping a ten minute commute into the office for a ten minute walk to the beach instead.
“Holiday homes have always been popular, often apartments or cottages that have been refurbished to an incredibly high spec, but again there’s been a surge in recent weeks for these as people choose to make an investment now, so they have somewhere for a staycation over the next few years instead of going abroad.”
According to Right Move, these are the UK’s most in-demand seaside towns and their average house prices in May 2020:
Whitby, North Yorkshire – £213,053
Whitley Bay, Tyne and Wear – £263,078
Troon, Ayrshire – £165,386
Padstow, Cornwall – £497,051
Newquay, Cornwall – £275,101
Salcombe, Devon – £730,213
Ayr, Ayrshire – £149,746
Bude, Cornwall – £311,666
Caister-On-Sea, Norfolk – £217,827
Ilfracombe, Devon – £203,620