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 £1 million in seaside towns across mainland Great Britain, and found that the average asking price for a sea view is £304,702, compared to £236,070 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 £600,000 and beach huts on Rightmove for just under £20,000. 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: “Homes 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.”
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 | £392,063 | £248,987 | 57% | 14% |
| Lytham St. Annes, Lancashire | £325,530 | £235,691 | 38% | 5% |
| Folkestone, Kent | £307,490 | £222,986 | 38% | 17% |
| Penzance, Cornwall | £321,959 | £237,206 | 36% | 29% |
| Bournemouth, Dorset | £395,196 | £292,431 | 35% | 6% |
| National average | £304,702 | £236,070 | 29% | 7%* |
Most expensive towns with a sea view (analysis of properties under £1 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 | £481,826 | £431,208 | 12% | 11% |
| Broadstairs, Kent | £456,041 | £362,201 | 26% | 17% |
| Poole, Dorset | £452,149 | £364,239 | 24% | 3% |
| Hythe, Kent | £447,456 | £346,550 | 29% | 21% |
| Whitstable, Kent | £429,857 | £391,046 | 10% | 12% |
Cheapest areas with a sea view (analysis under £1 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 | £144,401 | £135,502 | 7% | 10% |
| Cleethorpes, Lincolnshire | £169,543 | £134,104 | 26% | 14% |
| Scarborough, North Yorkshire | £196,262 | £172,232 | 14% | 13% |
| Portland, Dorset | £206,855 | £204,082 | 1% | 28% |
| Lowestoft, Suffolk | £206,943 | £190,719 | 9% | 9% |
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 | £327,056 | £243,832 | 34% | 30% |
| Paignton, Devon | £267,394 | £210,976 | 27% | 29% |
| Penzance, Cornwall | £321,959 | £237,206 | 36% | 29% |
| Portland, Dorset | £206,855 | £204,082 | 1% | 28% |
| Brixham, Devon | £306,225 | £249,213 | 23% | 22% |
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