Seaside living comes at a premium

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House prices in seaside towns have risen at a higher rate over the last decade than prices across the country generally.

Research for the Halifax found average prices in resort towns had soared by 97 per cent over the past 10 years, a bigger rise than the typical 95 per cent increase seen across England and Wales.

Since 2002, Land Registry data showed prices had more than doubled in about half the seaside towns in England and Wales.

Seaham, in County Durham, with its dramatic clifftop coastline, saw the biggest jump, with a 183 per cent increase taking typical house prices to nearly £109,000 by 2012.

Outside Southern England, the most expensive places beside the seaside are Mumbles in Wales, where properties cost an average of £240,899 and Whitby in North Yorkshire, where house prices stand at about £211,484.

The Cornish tourist hotspots of Wadebridge and Padstow, made up the top three seaside towns with the steepest rises.

Prices have risen by 173 per cent in the market town of Wadebridge and in Padstow, which has seen its profile rise due to its associations with TV chef and restaurateur Rick Stein, prices have gone up by 171 per cent over the last 10 years.

Somewhat unsurprisingly, all of the top 10 most expensive seaside towns are in the South and the 10 cheapest are in the North.

Salcombe in Devon was named as the most expensive seaside town, with typical homes there costing a cool £529,000 on average.

House prices in seaside towns in Wales, East Anglia and the South West tend to be higher than those in their counties generally, but in Yorkshire and the Humber and the South East seaside living tends to be cheaper than the county average.

Halifax housing economist Martin Ellis said: “Seaside living often comes with a price. The majority of seaside towns in Wales, East Anglia and the South West have an average house price that is higher than the surrounding area.

“But this is not always the case and good value properties can be found in many seaside towns in the South East and Yorkshire and the Humber in particular.”