Salcombe is 'Britain's most expensive seaside town'

Salcombe in Devon has been named the most expensive seaside town for buying a house.

It's leapfrogged the previous holder of the title, Sandbanks in Dorset, according to new figures from the Halifax, with the average price for a property reaching £1,244,025.

Seven out of the top ten places are in either Devon or Cornwall - here's the full list:

1 - Salcombe (£1,244,025)

2 - Sandbanks (£952,692)

3 - Aldeburgh (£794,492)

4 - Padstow (£790,847)

5 - Lymington (£663,474)

6 - Yarmouth (£611,816)

7 - Dartmouth (£567,985)

8 - Kingsbridge (£556,659)

9 - Wadebridge (£548,669)

10 - Budleigh Salterton (£537,681)

"Million pound properties are abundant in the South West"

Kim Kinnaird, Mortgages Director, Halifax said, “When we delve deeper into the cost of Britain’s seaside homes, it’s clear that there is a broad spectrum in house prices.

"Whilst million-pound properties are abundant in the South West of England, in contrast, homes in Greenock in Scotland are valued on average at less than £100,000.

“Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations. While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play.

"Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore.”

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