31 May

Prices on the rise in seaside towns

Prices on the rise in seaside towns

Prices have increased by 32 per cent in many British seaside towns over the past ten years, reveals new figures.

Date from the annual Halifax Seaside Town Review shows the average property close to the sea has increased in value from £166,565 in 2006 to £219,836 in 2016 - a rise of £440 per month.

Seaside towns in Scotland have seen the largest increase in value, with the majority located in Aberdeenshire.

Away from Scotland, Brighton experienced the greatest increase with prices up by 59 per cent to £341,235.

Other up-and-coming areas include Whitstable in Kent, Shoreham on Sea and Truro in Cornwall.

"Seaside towns are highly popular places to live, offering sought after scenery, weather and lifestyle which no doubt come at a price,” said Martin Ellis, housing economist at Halifax.

He added: "They also attract those looking for holiday properties, which add upward pressure on house prices, which our research shows have increased by an average of £440 per month since 2006."ADNFCR-1222-ID-801819533-ADNFCR

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