The latest research by eXp UK, the platform for personal estate agents & estate agency businesses, has revealed it’s not just the wider property market that has struggled in recent times, with the average value of the much loved beach hut falling across some of the nation’s coastal hotspots.
eXp UK analysed beach hut house prices across the nation’s coastal hotspots*, before comparing current market values to historic prices to see how the appetite for these tiny homes by the sea has changed.
Beach hut price appreciation slowing
The research shows that, on average, a beach hut will set you back £45,828 in the current market, with this average price having increased by 7.9% year on year (March 2023 vs March 2024).
While this is an impressive rate of annual growth in its own right, the historic figures suggest that our passion for beach huts may be waning, as over the previous year (March 2022 vs March 2023), the average value of a beach hut climbed by a huge 37.1%.
What’s more, beach hut values in some of the nation’s hottest coastal locations have actually declined year on year.
Beach hut prices down in popular hotspots
The research from eXp UK shows that across Dorset, the average value of a beach hut exploded by 100.5% between 2022 and 2023, hitting an huge £123,524 on average.
However, in the last year, the average price of a beach hut across the county has fallen by -24.4%. That said, the average Dorset beach hut still commands a respectable £93,383, which isn’t far off the average value of an actual house in Burnley and makes it the most expensive area to buy a beach hut.
Across East Sussex, the average value of a beach hut has fallen by -15.7% in the last year, having previously seen an annual increase of 41.8%.
In Norfolk, the average value of a beach hut has crept up by 6.5% over the last year, although this is a considerably slower rate of growth compared to the 48.1% increase seen the previous year.
While Essex (+12.9%), Hampshire (+23.1%) and West Sussex (+23.4%) have all seen the average value of a beach hut increase over the last year, this rate of growth is also down on the previous year.
Two counties see stronger growth in beach hut prices
At an average of £48,748, Hampshire currently ranks as the second most expensive county to buy a beach hut, followed by Kent at an average of £48,135.
Kent also ranks as one of just two areas where the average value of a beach hut has strengthened in the long-term. Over the last year, the average value of a beach hut in the county has climbed by 14.6% versus the 2.8% increase seen the previous year.
However, it’s Suffolk that has posted the strongest performance when it comes to beach hut house prices. Over the last year, the average price of a beach hut is up 37.8%, the highest annual rate of growth of all counties and far higher than the 8.3% annual increase seen the previous year.
Head of eXp UK, Adam Day, said, “Beach huts are a British institution and they can command serious money across our most popular coastal holiday hotspots.
However, with beach hut house prices having increased at a serious rate in recent years, it was only a matter of time before this rate of growth started to cool.
Of course, much like the wider property market, beach hut house prices are influenced by their own regional trends and while Dorset remains the most expensive location, it seems as though Suffolk has grown in popularity.
Not only has the county seen the strongest level of annual beach hut price appreciation, but prices have also posted the strongest performance when compared to the previous year. So, if you’re considering a beach hut in Suffolk, you might want to move fast before they climb to the dizzying heights currently seen across Dorset.”
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