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August 13, 2007

Up and coming seaside towns

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by Kay Mitchell

Up and coming seaside towns

A report by the Halifax has suggested that those looking at less fashionable towns by the seaside could be on to a winner. The study has used its yearly review of seaside town house prices and its quality of life survey to establish which seaside towns are offering the best bargains.

Many coastal areas have become hot property over the last few years and Devon, Dorset and Cornwall continue to be among the favourites. However, these resorts may have the highest house prices but it’s former industrial towns such as Seaham, in the North East, that have experienced the biggest price rise with the cost of an average home rising 63% to £122,000.

The top 10 seaside towns offering the value for money included Bridlington, in the North, Great Yarmouth, in the East, Southend-on-Sea, in the South East, and Weston Super Mare, in the South West.

A spokesperson for Halifax Estate Agents commented that coastal towns are apt to have house prices that are at a premium to their surrounding areas and have experienced strong house price growth over the past few years. There are still some good deals – Bridlington, Lowestoft and Great Yarmouth are the 3 seaside towns in Britain that offer the best value for money.

Halifax also highlighted that Bexhill, in East Sussex, Herne Bay, in Kent, and Southend-on-Sea, in Essex, as having average prices below £200,000.

Experts forecast that coastal towns will continue to benefit from above average price rises with demand for second homes.


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