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Coastal Towns Lead UK Property Boom
29 May
Summary
- Bootle leads fastest-growing seaside towns with 11% price increase.
- Wales and Merseyside towns show significant property value growth.
- Most coastal areas remain more affordable than the national average.
Seaside towns in Merseyside and Wales are currently experiencing a property boom, standing out against a broader national slowdown in house price growth.
Bootle, Merseyside, has taken the lead with an 11% increase in average asking prices over the past year, reaching £141,680. This significant rise places it at the forefront of a trend observed across several coastal locations.
Crosby, also in Merseyside, followed with a 9% year-on-year increase. Welsh towns like Penarth and Llantwit Major have also seen substantial growth, with Penarth becoming the most expensive in the top 10 fastest-growing areas at £433,081.
Despite these surges, approximately 80% of analysed seaside towns remain more affordable than the UK's national average asking price of £378,304. This contrasts with the overall market, where average asking prices have seen a slight decrease of 0.3% compared to the previous year.
Sandbanks in Dorset continues to be Britain's most expensive seaside location, with an average price of £1.12 million, highlighting the diverse price spectrum within coastal property markets.
