Yahoo Finance The last seaside towns where you can bag a bargain property
When the sun shines, few things beat a trip to the British seaside. Whether a day on the beach with a bucket and spade, catching a wave or a clifftop stroll, these are simple yet rewarding pastimes.
It is no wonder properties by the sea command such high prices.
Homes in fashionable Salcombe, Sandbanks and Padstow have become eye-wateringly expensive, but across Britain the average detached home within a mile of the coast has gone up 35pc since 2019, according to the estate agent Hamptons using Land Registry figures.
Even flats, which have typically performed less well during the pandemic race for space, within a mile of the coast grew on average by 11pc over the same period, compared to the 2pc for those further away.
Whether you seek a house or a flat, some locations still offer value. Of the British towns where the average second-hand property purchased last year cost below £350,000, according to Savills Research, here are eight.
Eastbourne, East Sussex
Average price: £333,447
In the 1700s it was hailed as the “Empress of Watering Places” for its health benefits; today Eastbourne’s three-mile seafront retains its elegance. Close to the dramatic cliffs of Beachy Head and South Downs National Park the resort town is an increasingly popular alternative to nearby (and pricier) Lewes, and its schools are a draw, including Eastbourne College and academy-status Ratton School.
Adrian Passingham of Strutt & Parker, says that the proportion of properties that have sold for over £1m in 2021 has more than doubled since 2019.
“We are continuing to see more buyers from London moving out but still wanting to be close enough to commute once a week or so for the office, with train journeys lasting around an hour and a half.” The sought-after areas of Meads, Holywell, Old Town and Ratton are pricier; but you can buy a two-bedroom flat overlooking the harbour for £300,000.
Cromer, Norfolk
Average price: £279,256
When it comes to North Norfolk, Blakeney, Cley and Holt will often get all the hype, yet Cromer, east along the coast, is underrated.
The traditional seaside resort famed for its Victorian pier and crab is popular for surfing and among new openings are the beachfront Whitewater Café and the chic revamp of the Edwardian Cliftonville hotel. At nearby Aylsham is the new Stamp pizzeria, whilst Felbrigg Hall is a lovely National Trust estate.
“It’s a different price bracket to the Cley-Blakeney-Holt area,” says Tim Stephens of Humberts estate agents, who says early retirees and holiday home owners favour it. He is selling a two-bedroom flat in a mid-Victorian terrace at £325,000, or a Grade-II listed, three-bedroom cottage with a courtyard at £415,000.
Ilfracombe, Devon
Average price: £270,471
Sitting on an especially scenic tranche of the South West Coast Path with dramatic cliffs, hidden coves and wooded hillsides, Ilfracombe often gets overlooked in favour of nearby Woolacombe or Croyde – but golden surfing beaches are still close to hand, as is Exmoor.
A charming historic harbour surrounded by pastel-coloured houses is home to art galleries, the Landmark Theatre, and Damien Hirst’s “Verity” statue. The new Watersports Centre and café at Larkstone Cove will be another attraction, says Lee Hussell of Webbers estate agents. “You can find pretty period cottages for £350,000,” he adds.
Ilfracombe attracts those seeking good value coastal property that is not too remote from the rest of the country, says Nick Cunningham of Stacks Property Search, who claims it could be the “new St Ives”. You can find a three-bedroom house in Langleigh Park on the outskirts of town for £350,000 or a renovated period villa with garden and views for £500,000.
Folkestone, Kent
Average price: £306,533
Within an hour’s train journey of London, offering easy access to Europe, Folkestone with its iconic white cliffs ought to be more popular. The harbour and rundown seafront including the Rotunda amusement park are undergoing major regeneration led by Sir Roger De Haan, former owner of the Saga Group. The Harbour Arm promenade is home to dozens of street food pop-ups and nearby is the popular Rocksalt restaurant, with new one-bedroom apartments at beachfront Shoreline starting from £475,000.
In town, the Creative Quarter is home to over 700 start-ups, with the Old High Street offering art galleries and workshops. Apartments at the refurbished Edwardian former tearoom Leas Pavilion start from £325,000, through Strutt & Parker. Edward Church of the agent says buyers priced out of London like the grammar schools.
Penzance, Cornwall
Average price: £289,063
According to Hamptons, coastal homes in the South West are typically 30pc higher than in 2019. Penzance and neighbouring Newlyn still offer some value, according to estate agent Jonathan Cunliffe: “Many properties in Mount’s Bay offer a sea view so you’ll find one for £300,000 to £400,000,” he says.
Penzance has its celebrated art deco lido, art galleries, artisan food shops alongside centuries old seafaring pubs, and a promenade undergoing a revamp. In Newlyn, famed for its School of Art, the filmhouse and Argoe seafood restaurant are highlights.
Buyers can find a three-bedroom period terrace for £300,000 in Newlyn, or Savills is selling a large four-bedroom detached Edwardian villa for £875,000.
Hastings, East Sussex
Average price: £320,326
Over 10 years, Hastings and its adjunct, St Leonards-on-Sea, have seen some of the most substantial price growth of seaside towns over the past decade.
A go-to choice for bohemian south Londoners looking for a full-time move or weekend flat, or an AirBnB investment, they have become a mecca of art galleries, craft beer shops and concept stores, whilst Source Park, the world’s largest underground BMX and skatepark, is a magnet for local teens.
The faded Regency facades of the townhouses – some in St Leonards designed by James and Decimus Burton – are fast being spruced up.
Jon Clements of agent M&W Property says: “There’s been so much regeneration in St Leonards that it is now more expensive than next-door Hastings.” You can still find a two-bedroom flat on the seafront’s Grand Parade there for £300,000, or a three-bedroom house in Hastings for the same price.
Tenby, Pembrokeshire
Average price: £337,502
Pembrokeshire can be pricey these days but try Tenby for its mix of golden sandy beaches, historic charm and affordability. Its medieval town walls and winding streets are full of tempting cafes such as the Loafley Bakery & Deli or there is the food and craft beer hub of Hwb in nearby Narberth.
No longer a “stag night” town, it hosts a blues festival, street food festival, as well as art exhibitions, concerts and outdoor theatre (try Carew Castle).
While properties within the city walls or sea views are more expensive, a lot of smaller terraced houses keep their value lower, says Carol Peett of West Wales Property Finders estate agents.
“It’s a vibrant year-round town popular with families and retirees alike,” she says. You can get a three-bedroom terraced house for less than £350,000, or a two-bed flat without sea views for £275,000. A pretty five-bedroom house within the city walls is on sale at £475,000 through separate agents West Wales Properties, or your money goes further if you dive inland.
Whitley Bay, Tyne and Wear
Average price: £327,052
Like nearby Tynemouth, Whitley Bay is easily accessed by Metro from Newcastle and has been on the up. Whitley Bay’s got its own long swathe of sandy beach great for surfing to rival the feted Longsands Beach, and the regeneration of its iconic, white-domed Spanish City includes a champagne bar, tea room and its award-winning fish and chip restaurant, Trenchers.
Its microbreweries, improving schools and reasonable property prices help pull in a more arty, younger crowd, according to estate agents in the area. You can find a five-bedroom house for £500,000, or a two-bedroom flat close to the Promenade for £250,000 (through Branner & Partners).
