Bournemouth on England’s south coast is the most in-demand seaside hotspot for homebuyers in 2021.
Remote working has seen more people moving out of cities, meaning searches for coastal properties have risen significantly.
At the same time, city buyers seeking their dream seaside property are pushing house prices up, sometimes even pricing locals out of the market.
Property search Rightmove has analysed searches across its website to identify the most sought-after areas.
It defined the most in-demand coastal areas as those which received the highest numbers of buyer enquiries in 2021.
The most popular area was Bournemouth, where prices have risen to £317,449 on average. Next most searched was Southampton, followed by Brighton, Blackpool and Poole.
The study also tracked which coastal regions have seen the biggest percentage increases in searches.
These up and coming areas are rising rapidly up the charts as more people consider relocating to them.
Searches in Lancashire rose by 32%, making it the top coastal rising star. Next up was Blackpool, where searches rose by 21%.
Three locations tied for third place, each seeing a 15% spike in searches: Great Yarmouth, Swansea and Saltburn-By-The-Sea which is in Cleveland.
Unsurprisingly, all the extra demand is forcing coastal prices up, which is good news for anyone looking to sell in these regions.
Padstow in Cornwall had the sharpest increase in house prices, with averages rising by 20% to £658,588.
Asking prices in Whitby jumped by 17% to £254,218, while St Ives costs went up by 15% to £473,161.
The fourth highest house price increases were in Porthcawl, South Glamorgan, where averages have reached £307,051.
Rightmove tracked activity on its website between January 1 and November 24 2021 and compared it with the same time period in 2020.
But the significant price tag jump as demand for coastal properties booms could make getting on the housing ladder more of a struggle for some people.
Tim Bannister, Rightmove’s director of property data said: “In terms of average asking price growth, homeowners in Cornwall and Devon are the real winners this year, with properties in some areas outpacing the national average, though this does mean that it is increasingly difficult for some locals to get onto the ladder.
“Overall, this has been the year that either through changed lifestyle priorities, or the ability to work remotely, living in coastal areas has become possible for more buyers, which is reflected in the data we’re seeing in this study.”
How to keep costs down when buying your dream home
Here are some of our top tips for keeping costs down if you’re looking to move closer to the seaside.
Make low offers
Don’t set your heart on one property, instead make low offers on several in one area. Make sure you have your mortgage-in-principle as it could help convince sellers.
Shop around for a mortgage
Make sure you use a “whole of market” mortgage broker, rather than just going with your bank.
Shopping around can save you hundreds, if not thousands of pounds in fees.
Check all fees and charges
Low interest rates are important when choosing a mortgage, but they’re not the only factor to consider. Make sure you consider all costs including set-up fees, early repayment costs and the interest once your deal ends.
Pack up yourself
Paying someone to do your packing certainly cuts the stress of moving, but it can be expensive. If you pack up yourself you can save hundreds.
Save on solicitors fees
Some solicitors will charge you less if you’re referred by your broker. Others charge less for returning customers.
Check reviews, as you want to make sure your solicitor is fast and reliable, but shop around to get a good deal.
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