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Coastal cost: £86,000 price premium for homes with a sea view
Rightmove says soaring demand has increased typical premium for seaside properties by more than £19,000 over past year
Living in a property with sea views tops many homebuyers’ wishlists - but achieving that dream means paying a hefty price premium.
New research by property website Rightmove shows that prices for coastal properties are £86,060 higher on average than those without - equating to a premium of 31% across Britain. And soaring demand has increased the typical premium to buy a home with a sea view by more than £19,000 over the past year.
The national average asking price of homes with a sea view is now £368,278, compared with £282,218 for those without. In 2019, the national average asking price of homes with a sea view was £319,645, compared to £252,686 without, which equates to a premium of £66,959.
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Tim Bannister, director of property data at Rightmove, said: “People who live in coastal areas are most content with where they live. Whether it be weekend walks along the beach or catching a glimpse through the window of the shimmering water in the distance, people value that connection with the sea and enjoy life in the areas around it.
“We’ve seen demand for coastal homes increase this year and so it stands to reason that homes with a sea view command a substantial price premium.”
Popular regions
The Southwest of England has the highest sea view price premium, at 42%, followed by the Northeast with 33%, and Wales with 27%. The Southwest is also where homes with a sea view are most expensive, with average asking prices of £415,296.
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Cornwall is the county that has the most homes advertised with a sea view, while Brighton and Hove leads the list of cities with the highest number of listings for the sought-after properties.
Regional breakdown via asking price premium
Swipe to scroll horizontally
Region
Row 0 - Cell 1
Average asking price (sea view)
Row 0 - Cell 3
Average asking price (non-sea view)
Row 0 - Cell 5
Asking price premium (%)
Row 0 - Cell 7
Price difference
Row 0 - Cell 9
South West
Row 1 - Cell 1
£415,296
Row 1 - Cell 3
£291,915
Row 1 - Cell 5
42%
Row 1 - Cell 7
£123,381
Row 1 - Cell 9
North East
Row 2 - Cell 1
£209,370
Row 2 - Cell 3
£157,441
Row 2 - Cell 5
33%
Row 2 - Cell 7
£51,929
Row 2 - Cell 9
Wales
Row 3 - Cell 1
£323,800
Row 3 - Cell 3
£255,543
Row 3 - Cell 5
27%
Row 3 - Cell 7
£68,257
Row 3 - Cell 9
East of England
Row 4 - Cell 1
£331,153
Row 4 - Cell 3
£264,293
Row 4 - Cell 5
25%
Row 4 - Cell 7
£66,860
Row 4 - Cell 9
North West
Row 5 - Cell 1
£204,834
Row 5 - Cell 3
£165,645
Row 5 - Cell 5
24%
Row 5 - Cell 7
£39,189
Row 5 - Cell 9
South East
Row 6 - Cell 1
£371,385
Row 6 - Cell 3
£309,829
Row 6 - Cell 5
20%
Row 6 - Cell 7
£61,556
Row 6 - Cell 9
Yorkshire and The Humber
Row 7 - Cell 1
£185,542
Row 7 - Cell 3
£158,502
Row 7 - Cell 5
17%
Row 7 - Cell 7
£27,040
Row 7 - Cell 9
Scotland
Row 8 - Cell 1
£134,145
Row 8 - Cell 3
£112,253
Row 8 - Cell 5
21%
Row 8 - Cell 7
£21,892
Row 8 - Cell 9
Britain
Row 9 - Cell 1
£368,278
Row 9 - Cell 3
£282,218
Row 9 - Cell 5
31%
Row 9 - Cell 7
£86,060
What the agents say
Fran Moynihan, head of Savills Waterfront
“Being an island nation, the sea is really part of our culture and as a result, many aspire to buy by the sea for its beautiful scenery, unique lifestyle and plentiful leisure offerings. Ordinarily, homes by the sea are popular, but this year we have seen the demand for a coastal lifestyle grow even more. With the type of property available along the coast varied, ranging from fisherman’s cottages to beachfront mansions and modern new-build developments, there really is something for everyone. Whether it’s for sailing, surfing, sea-fishing, wind-surfing, or even just a walk to take in the view, buyers are now more than ever eager to be close to the sea.”
Ian Lillicrap, director of Lillicrap Chilcott estate agent in Truro
“There’s something about the sea which has always captivated the imagination and, when it comes to house buying, the wallet too. Naturally, of course, there are premiums even within the exclusive bracket of homes with a sea view. For example, it depends on whether you’re buying a home with a glimpse of the sea, a direct panoramic sea view, or somewhere with direct sea frontage. Each has its price, and the prices can be high. You’ll pay a premium of at least 100% for the very best sea views and vastly greater than that for direct water frontage.”
This two-bedroom property offers superb views over St Ives Harbour to Smeatons Pier, and across St Ives Bay to the Atlantic ocean beyond. The property is listed for sale with Lillicrap Chilcott.
A stunning contemporary beach house in the Welsh village of Abersoch that looks out over Cardigan Bay to St Tudwals Islands and the Welsh Mountains. The property is listed for sale with Savills.
Mike Starling is the former digital features editor at The Week. He started his career in 2001 in Gloucestershire as a sports reporter and sub-editor and has held various roles as a writer and editor at news, travel and B2B publications. He has spoken at a number of sports business conferences and also worked as a consultant creating sports travel content for tourism boards. International experience includes spells living and working in Dubai, UAE; Brisbane, Australia; and Beirut, Lebanon.
