Three Cornish towns among coastal areas with biggest jump in house prices

Three towns in Cornwall have some of the highest house prices of coastal areas across the country.

Rightmove compared activity on its website between January 1st and November 24th 2021 with the same time period in 2020 to make the findings.

The property website looked at coastal locations with the biggest jumps in average asking prices, with Padstow being identified as this year’s top coastal asking price hotspot.

The average asking price there surged by a fifth (20%) compared with last year.

St Ives came in at number three in the list, and Newquay came in 5th place.

Elsewhere Bournemouth was the most in-demand seaside hotspot for buyers in 2021.

Rightmove, which carried out the analysis, defined the most in-demand coastal areas as those which received the highest numbers of buyer enquiries made via its website in 2021.

The significant price tag jump as demand for coastal properties booms could make getting on the housing ladder more of a struggle for some people.

Morecambe in Lancashire had the biggest jump in coastal buyer searches compared with last year ( up by 32%), followed by Blackpool (21%) and Great Yarmouth (15%).

Saltcoats in Ayrshire, Scotland meanwhile was named as the coastal location where homes are typically snapped up the most quickly – with properties finding a buyer in 19 days on average, 25 days quicker than the national average of 44 days.

Tim Bannister, Rightmove’s director of property data said: “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.

“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.”

Here are the coastal locations with the biggest jumps in average asking prices between 2020 and 2021, according to Rightmove, with the average asking price in 2021 and the percentage increase compared with 2020:

1. Padstow, Cornwall, £658,588, 20%

2. Whitby, North Yorkshire, £254,218, 17%

3. St Ives, Cornwall, £473,161, 15%

4. Porthcawl, South Glamorgan, £307,051, 14%

=5. Mablethorpe, Lincolnshire, £173,612, 13%

=5. Newquay, Cornwall, £317,846, 13%

=5. Filey, North Yorkshire, £214,617, 13%

=5. Pwllheli, Gwynedd, £222,607, 13%

=9. Brixham, Devon, £299,127, 12%

=9. Preston, Paignton, Devon, £303,684, 12%

Hear all the latest news from across the UK on the hour, every hour, on Greatest Hits Radio on DAB, smartspeaker, at greatesthitsradio.co.uk, and on the Rayo app.

• padstow
• st ives
• newquay
• house prices