Buying a home with a coveted sea view can cost 29% more than those without one, according to an analysis of properties for sale in seaside towns on Rightmove.
The analysis looked at all properties for sale under ยฃ1 million in seaside towns across mainland Great Britain, and found that the average asking price for a sea view is ยฃ304,702, compared to ยฃ236,070 for a home without one.
The highest price premium is in Felixstowe on the Suffolk coast with a 57% premium. Overall asking prices in the town have gone up by 45% over the past five years, compared to a national average increase of 27%, helped by major investment in the town and along the seafront. There are apartments up for sale on Rightmove by the seafront for over ยฃ600,000 and beach huts on Rightmove for just under ยฃ20,000. The second highest premium is in Lytham St. Annes in Lancashire with sea views proving to be a factor in sellers asking for a 38% premium.
On average there are just under one in 10 homes in these seaside towns that have a sea view, with this lack of choice helping to drive up the price that sellers can ask for. The highest proportion can be found in Teignmouth and Paignton, both in Devon, where nearly a third of all properties up for sale offer a sea view. Rightmove has just launched a new Keyword Sort feature to make it easier for home hunters to search for specific requirements, with sea view already in the top five most popular keywords.
Miles Shipside, Rightmove director and Housing Market analyst comments:ย โHomes in prime positions by the sea are in a virtuous circle as previous owners are likely to have invested more in the property because they could see future potential gains. The local housing markets in these seaside towns around Great Britain vary significantly, but in all areas those with a sea view offer a financial advantage to home owners looking for a buyer possibly wanting to retire or use as a holiday home. The key is making the most of this in the pictures they use when advertising their home so a prospective buyer can see just how great the views are before they book an appointment.โ
Highest price premium for a sea view
| Area | Average asking price for a sea view | Average asking price with no sea view | Asking price premium | % of properties with a sea view |
| Felixstowe, Suffolk | ยฃ392,063 | ยฃ248,987 | 57% | 14% |
| Lytham St. Annes, Lancashire | ยฃ325,530 | ยฃ235,691 | 38% | 5% |
| Folkestone, Kent | ยฃ307,490 | ยฃ222,986 | 38% | 17% |
| Penzance, Cornwall | ยฃ321,959 | ยฃ237,206 | 36% | 29% |
| Bournemouth, Dorset | ยฃ395,196 | ยฃ292,431 | 35% | 6% |
| National average | ยฃ304,702 | ยฃ236,070 | 29% | 7%* |
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ย Most expensive towns with a sea viewย (analysis of properties under ยฃ1 million)
| Area | Average asking price for a sea view | Average asking price with no sea view | Asking price premium | % of properties with a sea view |
| Hove, East Sussex | ยฃ481,826 | ยฃ431,208 | 12% | 11% |
| Broadstairs, Kent | ยฃ456,041 | ยฃ362,201 | 26% | 17% |
| Poole, Dorset | ยฃ452,149 | ยฃ364,239 | 24% | 3% |
| Hythe, Kent | ยฃ447,456 | ยฃ346,550 | 29% | 21% |
| Whitstable, Kent | ยฃ429,857 | ยฃ391,046 | 10% | 12% |
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Cheapest areas with a sea viewย (analysis under ยฃ1 million)
| Area | Average asking price for a sea view | Average asking price with no sea view | Asking price premium | % of properties with a sea view |
| Morecambe, Lancashire | ยฃ144,401 | ยฃ135,502 | 7% | 10% |
| Cleethorpes, Lincolnshire | ยฃ169,543 | ยฃ134,104 | 26% | 14% |
| Scarborough, North Yorkshire | ยฃ196,262 | ยฃ172,232 | 14% | 13% |
| Portland, Dorset | ยฃ206,855 | ยฃ204,082 | 1% | 28% |
| Lowestoft, Suffolk | ยฃ206,943 | ยฃ190,719 | 9% | 9% |
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Areas with highest proportion of properties with a sea view
| Area | Average asking price for a sea view | Average asking price with no sea view | Asking price premium | % of properties with a sea view |
| Teignmouth, Devon | ยฃ327,056 | ยฃ243,832 | 34% | 30% |
| Paignton, Devon | ยฃ267,394 | ยฃ210,976 | 27% | 29% |
| Penzance, Cornwall | ยฃ321,959 | ยฃ237,206 | 36% | 29% |
| Portland, Dorset | ยฃ206,855 | ยฃ204,082 | 1% | 28% |
| Brixham, Devon | ยฃ306,225 | ยฃ249,213 | 23% | 22% |
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