Royal hideaway tops seaside property league
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.
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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 (£) |
|---|---|---|---|---|
548,621 | -12.90% | -41,335 | ||
335,030 | -11.42% | -41,232 | ||
293,598 | -11.68% | -38,818 | ||
286,730 | -8.81% | -27,704 | ||
285,468 | -14.98% | -50,286 | ||
278,473 | -9.27% | -18,245 | ||
278,415 | -11.11% | -20,869 | ||
276,981 | -13.05% | -41,559 | ||
266,792 | -9.85% | -29,138 | ||
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 (£) |
|---|---|---|---|---|
147,409 | -20.14% | -37,164 | ||
200,995 | -18.68% | -46,174 | ||
173,807 | -18.61% | -39,743 | ||
173,059 | -18.50% | -39,293 | ||
208,069 | -18.17% | -46,191 | ||
206,558 | -17.77% | -44,634 | ||
179,380 | -17.76% | -38,720 | ||
179,592 | -17.34% | -37,676 | ||
146,245 | -17.32% | -30,637 | ||
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 (£) |
|---|---|---|---|---|
169,024 | -4.33% | -7,653 | ||
171,214 | -4.68% | -8,060 | ||
212,580 | -5.89% | -13,296 | ||
137,283 | -6.18% | -9,036 | ||
194,533 | -6.79% | -14,177 | ||
197,028 | -7.27% | -15,449 | ||
209,775 | -7.41% | -16,788 | ||
165,799 | -8.39% | -15,186 | ||
235,112 | -8.57% | -22,029 | ||
196,715 | -8.60% | -18,503 |
The top 10 premiums are as follows
Town | County | Average home value (£) | Average County home value | Premium (Difference) |
|---|---|---|---|---|
548,621 | 210,310 | 338,311 | ||
278,473 | 147,073 | 131,400 | ||
278,415 | 165,289 | 113,126 | ||
335,030 | 227,691 | 107,339 | ||
285,468 | 182,904 | 102,564 | ||
293,598 | 193,369 | 100,229 | ||
232,001 | 152,845 | 79,156 | ||
286,730 | 209,575 | 77,566 | ||
276,981 | 209,575 | 67,406 | ||
201,212 | 140,739 | 60,473 |
Top 5 most expensive seaside areas for detached properties
Town | County | Average detached home value | Average home value |
|---|---|---|---|
504,261 | 293,598 | ||
422,118 | 335,030 | ||
367,916 | 276,981 | ||
365,226 | 548,621 | ||
344,842 | 247,235 |
Top 5 most expensive seaside areas for semi-detached properties
Town | County | Average semi-detached home value | Average home value |
|---|---|---|---|
283,589 | 293,598 | ||
248,528 | 335,030 | ||
246,652 | 285,468 | ||
229,987 | 227,822 | ||
228,907 | 247,235 |
Top 5 most expensive seaside areas for flats
Town | County | Average flat value | Average home value |
|---|---|---|---|
245,530 | 293,793 | ||
217,762 | 276,981 | ||
212,997 | 285,468 | ||
195,070 | 335,030 | ||
194,533 | 232,001 |
Top 5 most expensive seaside areas for terraced properties
Town | County | Average terraced home value | Average home value |
|---|---|---|---|
279,606 | 293,793 | ||
269,151 | 285,468 | ||
248,213 | 227,822 | ||
233,611 | 335,030 | ||
214,583 | 266,792 |
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