House prices increase with a sea view

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by Kay Murchie

The annual seaside town review has been carried out by The Bank of Scotland and according to the figures, prices of houses around the UK’s most popular coastal resorts have increased by more than 200% since the start of the millennium, with investment returns beating anywhere else in the country.

The small Scottish fishing port, Girvan in Ayrshire, was recently voted Britain’s best performing seaside town and house prices within the Scottish town have soared by 41% over the last 12 months.

In addition, a wooden chalet on Chesil Beach in Dorset sold for £216,000, up from £120,000 in 2001.

The study also established that average seaside properties across the country currently cost over £13,000 more than a similar property inland within the same area. However, coastal homes in St Andrews, Scotland, cost 86% more.

Attractive seaside resorts can act as a premium to property prices according to mortgage broker, Savills Private Finance. The broker also commented that increased regeneration of seaside towns is taking place and this is making them more appealing to investors and holidaymakers.