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Royal hideaway tops seaside property league

- Holiday homes of the rich & famous boost Rock's prices -

19th June 2009

Favoured by the likes of Princes William and Harry, Rock in Cornwall has topped the Seaside Property Hotspot League, with average home values currently standing at £548,621 - over £370,000 more than average coastal values researched across the UK.

Despite seeing values drop 12.9 per cent over the past year, Britain's answer to St Tropez was the clear leader, ahead of scenic Milford on Sea in Hampshire (average £335,030) and golfing hotspot North Berwick in East Lothian (average £293,598).

Property website Zoopla.co.uk, which provides free value estimates and sold prices for every UK home, compiled the Seaside Property Hotspot League by comparing average home values and property price changes for all UK coastal resorts from 1st June 2008 to 1st June 2009.

Woolacombe in Devon was fourth in the league with values of £286,730 whilst the top five was rounded off by Southwold in Suffolk where a working lighthouse, beach huts and an award-winning pier helped the seaside retreat to a current average property value of £285,468.

Seaside havens in the southwest counties of Cornwall, Devon, Dorset and Hampshire dominated the top ten, although properties in Pembrokeshire and Gwynedd in Wales also scored highly in the league.

Over the past 12 months, the biggest seaside value drops were seen by properties in Kent, where house prices have fallen 20.1 per cent in Ramsgate and 18.7 per cent in Broadstairs. Burnham on Sea in Somerset was the third worst performer over the past year with a drop of 18.6 per cent.

Coastal resorts where property prices have held up best in the market downturn, were led by some of Wales's largest coastal resorts after average property values in Llandudno dropped by just 4.3 per cent and Llangrannog by just 4.7%, followed by popular Cornish family resort Looe where values dropped by only 5.9%.

With house values over £330,000 higher than the Cornish average, residents of Rock also pay the biggest premium in the UK to live in the exclusive village. Popular Abersoch in Wales is next with a premium of £131,000, followed by the harbour village of Porthgain in Pembrokeshire where values were £113,000 over the average for the county.

The figures revealed that North Berwick is home to the most expensive seaside properties, with the average detached property setting you back a cool £504,261, semi-detached £283,589, flats coming in at £245,530 and the average terraced house a hefty £279,606. Properties in Milford-on-Sea and Sidmouth also scored highly in the value stakes across all property types.

Alex Chesterman, CEO of Zoopla.co.uk commented:

"Zoopla.co.uk's Seaside Property Hotspot League paints a clear picture of which much loved British coastal areas have retained value and those where values have slumped despite their picturesque and desirable location.

"With property searches on Zoopla.co.uk now at a rate of over one per second, we are seeing clear evidence of increased market interest. Providing that buyers gain confidence that the price declines are slowing and sellers are realistic with their expectations, we are likely see a recovery in market activity in the last half of 2009 which in turn will lead to a recovery in prices."

For those who wish to keep track of their most valuable asset - or check out the value of anyone else's - Zoopla.co.uk is the ultimate tool, providing free instant value estimates on any UK home, along with sold prices, current properties for sale and to rent, local information and market trends.

- Ends -

For further information, please contact Tim Vooght at pr@zoopla.co.uk or on 020 3872 5615.

Notes to editors

Results at a glance

The Seaside Hotspot Property League coastal average value is £175,422, based on a property-weighted average of post town value estimates across the 120 seaside property hotspots that were researched.

The top 10 seaside property hotspots are as follows

Town County Average home value (£) 12 month change (%) 12 month change (£)
Rock Cornwall 548,621 -12.90% -41,335
Milford-on-Sea Hampshire 335,030 -11.42% -41,232
North Berwick East Lothian 293,598 -11.68% -38,818
Woolacombe Devon 286,730 -8.81% -27,704
Southwold Suffolk 285,468 -14.98% -50,286
Abersoch Gwynedd 278,473 -9.27% -18,245
Porthgain Pembrokeshire 278,415 -11.11% -20,869
Sidmouth Devon 276,981 -13.05% -41,559
Lyme Regis Dorset 266,792 -9.85% -29,138
Swanage Dorset 247,235 -11.05% -30,729

The 10 highest seaside property value drops are as follows

Town County Average home value (£) 12 month change (%) 12 month change (£)
Ramsgate Kent 147,409 -20.14% -37,164
Broadstairs Kent 200,995 -18.68% -46,174
Burnham-on-Sea Somerset 173,807 -18.61% -39,743
Hastings East Sussex 173,059 -18.50% -39,293
Newquay Cornwall 208,069 -18.17% -46,191
Littlehampton West Sussex 206,558 -17.77% -44,634
Herne Bay Kent 179,380 -17.76% -38,720
Paignton Devon 179,592 -17.34% -37,676
Clacton-On-Sea Essex 146,245 -17.32% -30,637
Bognor Regis West Sussex 197,745 -17.26% -41,255

The 10 lowest seaside property value drops are as follows

Town County Average home value (£) 12 month change (%) 12 month change (£)
Llandudno Gwynedd 169,024 -4.33% -7,653
Llangrannog Ceredigion 171,214 -4.68% -8,060
Looe Cornwall 212,580 -5.89% -13,296
Milford Haven Pembrokeshire 137,283 -6.18% -9,036
Sheringham Norfolk 194,533 -6.79% -14,177
Tenby Pembrokeshire 197,028 -7.27% -15,449
Perranporth Cornwall 209,775 -7.41% -16,788
New Quay Ceredigion 165,799 -8.39% -15,186
Hayling Island Hampshire 235,112 -8.57% -22,029
Saundersfoot Pembrokeshire 196,715 -8.60% -18,503

The top 10 premiums are as follows

Town County Average home value (£) Average County home value Premium (Difference)
Rock Cornwall 548,621 210,310 338,311
Abersoch Gwynedd 278,473 147,073 131,400
Porthgain Pembrokeshire 278,415 165,289 113,126
Milford-on-Sea Hampshire 335,030 227,691 107,339
Southwold Suffolk 285,468 182,904 102,564
North Berwick East Lothian 293,598 193,369 100,229
Llanddona Isle of Anglesey 232,001 152,845 79,156
Woolacombe Devon 286,730 209,575 77,566
Sidmouth Devon 276,981 209,575 67,406
Llansteffan Carmarthenshire 201,212 140,739 60,473

Top 5 most expensive seaside areas for detached properties

Town County Average detached home value Average home value
North Berwick East Lothian 504,261 293,598
Milford-on-Sea Hampshire 422,118 335,030
Sidmouth Devon 367,916 276,981
Rock Cornwall 365,226 548,621
Swanage Dorset 344,842 247,235

Top 5 most expensive seaside areas for semi-detached properties

Town County Average semi-detached home value Average home value
North Berwick East Lothian 283,589 293,598
Milford-on-Sea Hampshire 248,528 335,030
Southwold Suffolk 246,652 285,468
Brighton East Sussex 229,987 227,822
Swanage Dorset 228,907 247,235

Top 5 most expensive seaside areas for flats

Town County Average flat value Average home value
North Berwick East Lothian 245,530 293,793
Sidmouth Devon 217,762 276,981
Southwold Suffolk 212,997 285,468
Milford-on-Sea Hampshire 195,070 335,030
Llanddona Isle of Anglesey 194,533 232,001

Top 5 most expensive seaside areas for terraced properties

Town County Average terraced home value Average home value
North Berwick East Lothian 279,606 293,793
Southwold Suffolk 269,151 285,468
Brighton East Sussex 248,213 227,822
Milford-on-Sea Hampshire 233,611 335,030
Lyme Regis Dorset 214,583 266,792

About Zoopla.co.uk

Zoopla.co.uk is a unique property website offering users information and tools to help them make better-informed property decisions. Our aim is to provide the most comprehensive source of residential property market information in the UK to help buyers, sellers, owners and estate agents alike and give them an advantage in the property market.

In 2007, following the success of bringing DVD rental to the web with LOVEFiLM.com, Zoopla founders Alex Chesterman and Simon Kain realised that the UK property market had yet to fully enjoy the benefits of the internet in terms of its ability to deliver transparency and efficiency. They set out with the mission to transform the property market for both professionals and consumers by:

  • offering users FREE access to instant value estimates, sold house prices and local information and trends
  • enhancing estate agents' marketing efficiency by providing exposure/leads on a pay-for-performance basis
  • helping users find local agents and other property professionals to assist them in the transaction process
  • letting buyers make offers on ANY UK home and owners test interest in their homes before choosing to sell
  • creating an environment where anyone can ask/answer questions and share their knowledge about homes

We have started by providing FREE value estimates, sold prices and local information as well as letting users add content by editing information and uploading photos. We are the UK's fastest growing property website and by far the largest and most active property community in the UK, with over a million user contributions to our website in 2008 alone. We have already launched some unique features, like TemptMe™ and AskMe™, which allow consumers to gain an insight into the market and discover information they won't find anywhere else. Our estate agent directory, FindAnAgent and our unique AskAnAgent feature allow users to contact local professionals directly for their expertise. Very soon we will begin accepting estate agent listing feeds and delivering buyer leads to agents on a no-risk, performance-based model, making Zoopla.co.uk the most cost-effective way for agents to gain exposure and develop their inventory pipeline.

Our value estimates are calculated using a proprietary algorithm (a secret formula) that we have developed by analysing millions of data points relating to property sales and home characteristics throughout the UK. The algorithm works by comparing relationships between home prices, economic trends and property characteristics in given geographic areas. Our estimates are constantly refined, using the most recent data available from public sources combined with our proprietary used-generated data and a variety of statistical methodologies, in order to provide the most current information on any home.

Zoopla Limited is a privately held company with a highly experienced and proven management team, backed by well-respected angel investors and leading venture capital firms Atlas Venture (atlasventure.com) and Octopus Ventures (octopusventures.com).

Zoopla.co.uk Awards

  • Winner: 'UK's Most Promising Internet Company 2008' (First Tuesday)
  • Winner: 'Best Property Website - Gold Award' (Web User Magazine)
  • Winner: 'Best Real Estate website 2008' (Websiteoftheyear.co.uk)

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