x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Bournemouth boom – study shows town was the most in-demand coastal location 

The popular coastal town of Bournemouth has been the most in-demand coastal location for buyers this year, according to Rightmove data.

Analysis of the year from the portal, based on millions of supply, demand and pricing data points across the property market, examined activity in coastal locations in 2021 compared with 2020.

It found that the South Coast of England is particularly popular, with Southampton being this year’s second most in-demand coastal location, while Brighton came in third.

Advertisement

Average asking prices across the top ten in-demand coastal locations grew by 6% this year, just ahead of the national average rise of 5%.

Padstow in Cornwall – famous for its connections to celebrity chef Rick Stein – topped the list of this year’s coastal average asking price hotspots, with average asking values increasing 20% this year, up from £548,382 to £658,588.

Whitby, in North Yorkshire, itself famous for its connections to Bram Stoker’s Dracula, came second, with prices increasing 17% from £217,620 to £254,218, while coastal hotspot St. Ives, in Cornwall, came third, with prices rising 15% from £411,484 to £473,161.

The speed of the market this year – boosted by the stamp duty holiday and strong borrowing/lending conditions – means the time to find a buyer has hit a record low number of days.

The average time to find a buyer across the whole of 2021 stands at 44 days, 15 days quicker than the average in 2020.

This year’s quickest coastal location to find a buyer, at 19 days on average, was Saltcoats in Ayrshire, Scotland. Troon, also in Ayrshire, came second at 22 days, and Westward Ho!, in Bideford, Devon, was third at 24 days.

The biggest jump in coastal buyer searches compared to last year was in Morecambe, Lancashire, up by 32%. This was followed by Blackpool (+21%) and Great Yarmouth (+15%).

Tim Bannister, Rightmove’s director of property data, said of the findings. “After a year where coastal locations really captured the imagination of British buyers, it’s interesting to reflect on how the overall picture looks at the end of the year.”

“In terms of average asking price growth, homeowners in Cornwall and Devon are the real winners this year, with properties in some areas outpacing the national average, though this does mean that it is increasingly difficult for some locals to get onto the ladder.”

He added: “The speed of this year’s market really is astounding, seen in the time to find a buyer in some areas, particularly in Scotland. Overall, this has been the year that either through changed lifestyle priorities, or the ability to work remotely, living in coastal areas has become possible for more buyers, which is reflected in the data we’re seeing in this study.”

 Most in-demand coastal locations


Rank

Location


Average asking price

Average asking price increase 2021 vs 2020

1

Bournemouth, Dorset

£317,449

4%

2

Southampton, Hampshire

£249,053

4%

3

Brighton, East Sussex

£461,796

5%

4

Blackpool, Lancashire

£137,301

8%

5

Poole, Dorset

£406,566

5%

6

Southport, Merseyside

£215,838

5%

7

Eastbourne, East Sussex

£306,546

6%

8

Worthing, West Sussex

£354,361

6%

9

Hastings, East Sussex

£295,096

10%

10

Weston-Super-Mare, Somerset

£252,339

5%

icon

Please login to comment

MovePal MovePal MovePal
sign up