Seaside Suffolk town named one of the most expensive places to buy a house

Aldeburgh in Suffolk is one of the priciest locations to buy a seaside home - according to new analysis.

The average house in the town costs almost £800,000, according to data from Halifax - making it the third most expensive coastal location in the UK.

The coastal town of Salcombe in Devon was the most expensive, while Greenock in Scotland was the least.

Located within an area of outstanding natural beauty, Salcombe swapped places with Sandbanks in Dorset, which was previously named the priciest seaside spot.

The bank analysed house price data for the 12 months to December 2022 to make the findings, looking at 209 coastal locations in total.

It found the average house price in Salcombe last year was just over £1.2 million.

As well as attracting ramblers, Salcombe's estuary location also makes it a popular place for activities on the water.

At the other end of the spectrum, Greenock in Inverclyde, Scotland, was found to have the lowest average house price of the seaside locations analysed, at £97,608.

Price increases

The study indicated that, in general, the cost of coastal homes across Britain has increased by 56% between 2012 and 2022, from £195,509 to £304,460.

During the early months of the coronavirus pandemic, coastal and rural locations were particularly popular as house hunters embarked on a "race for space".

Many of the most expensive seaside locations were found along the coastline of southern England, in areas popular with second home owners.

Back in 2012, the average house price in Salcombe, at £558,538, was less than half the typical 2022 value.

Other locations where house prices have at least doubled over the past decade include Margate and Westgate-on-Sea in Kent.

By the end of 2022, a home in Margate cost 109% more, on average, than it did in 2012, rising from £146,276 to £305,191, and the average cost of a property in Westgate-on-Sea doubled, from £154,686 to £308,764.

Britain's most expensive locations to buy a seaside home

1. Salcombe, Devon, South West, £1,244,025

2. Sandbanks, Dorset, South West, £952,692

3. Aldeburgh, Suffolk, East of England, £794,492

4. Padstow, Cornwall, South West, £790,847

5. Lymington, Hampshire, South East, £663,474

6. Yarmouth, Isle of Wight, South East, £611,816

7. Dartmouth, Devon, South West, £567,985

8. Kingsbridge, Devon, South West, £556,659

9. Wadebridge, Cornwall, South West, £548,669

10. Budleigh Salterton, Devon, South West, £537,681

Britain's least expensive locations to buy a seaside home

1. Greenock, Inverclyde, Scotland, £97,608

2. Girvan, Ayrshire, Scotland, £105,410

3. Millport, Ayrshire, Scotland, £111,381

4. Invergordon, Ross and Cromarty, Scotland £114,962

5. Saltcoats, Ayrshire, Scotland, £116,414

6. Newbiggin-by-the-Sea, Northumberland, North East, £117,663

7. Stranraer, Dumfries and Galloway, Scotland, £117,884

8. Wick, Caithness, Scotland, £124,857

9. Thurso, Caithness, Scotland, £126,716

10. Campbeltown, Argyll and Bute, Scotland, £129,348

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