Britain’s most expensive coastal locations revealed – and they’re all in one region
Salcombe in Devon has been found to be the most expensive place in the UK to buy a home near the sea.
Properties in the town cost an average of £970,657, according to Lloyds Bank.
While that’s down 22% (or £270,641 in cash terms) since 2022 when they cost more than £1.2m, it’s still around nine times the price of a house in the cheapest costal area – Rothesay, on the Isle of Bute in eastern Scotland.
Here properties cost an average of £101,477.
Affluent Sandbanks in Dorset, home to celebrity residents including Harry Redknapp, is the second most expensive, with an average price tag of £957,739.
In fact, all the top 10 are in the South West.
Padstow in Cornwall, with its renowned Seafood Restaurant by Rick Stein, is third, with homes costing around £701,979.
“These pricier areas can result in a lack of affordable homes for first-time buyers, a problem often exacerbated by high levels of second-home ownership, meaning that many who have grown up in the area may find themselves priced out of owning their own home locally,” Amanda Bryden, head of mortgages at Lloyds Bank, said.
The average coastal home is now £293,710, 4% lower than in 2022 but 48% higher than 10 years ago, Lloyds Bank said.
Costal properties in Margate in the South East and Amlwch in Wales have more than doubled in the past decade to £309,049 and £255,189 respectively.
All 10 of the least expensive coastal locations are in Scotland…
