Rightmove names top seaside price hotspot – but average home sells for over £1.2million

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House prices: Expert discusses 'interesting' pricing differences

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The UK’s largest property site, Rightmove, has named Canford Cliffs in Poole, Dorset as the top seaside price hotspot in the UK where asking prices have jumped by 24 percent in the past year. The affluent suburb is known for its stunning views, Blue Flag status beach, pretty beach huts and sandy cliffs. It’s also located just five minutes away from Sandbanks – a small peninsula known for its award-winning beach and luxury homes.

Canford Cliffs village also has plenty to offer including restaurants, shops and cafes.

However, properties in the area don’t come cheap with the average asking price for a home coming in at an eye-watering £1,223,180.

Steve Isaacs, Director at Luxury & Prestige Properties in Canford Cliffs, said one of the “advantages” of living in Canford Cliffs is its “easy access” to London and other parts of the country.

With many Britons still working from home part-time, Mr Isaacs said they have seen new types of buyers in the area.

He explained: “Like many coastal areas, we in Canford Cliffs have been incredibly busy for a long time, and we’re still seeing really strong demand to move to this part of Dorset.

“One of the key things we’ve noticed influencing moves is that working patterns have changed.

“We’re seeing lots of people wanting to buy larger homes now that they spend more time working from home, and we’re also seeing new types of buyers looking in Canford Cliffs from outside the area now that their work has become more flexible.

“Whereas before the pandemic we had many people interested in a holiday home, now we’re seeing more people looking for a property they can comfortably spend a good portion of the year in and work.

“With more demand than homes available we’ve seen strong competition between buyers which has contributed to a growth in prices.

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“One advantage of Canford Cliffs is its easy access to London and other parts of Great Britain, and we’ve had some buyers choose the area because of this.”

Brixham in Devon came in second as a seaside price hotspot.

Asking prices have risen by 23 percent in the last year, with the average asking price now £337,129.

Abergele in Conwy, Wales came in third with an average asking price of £234,613, Skegness, Lincolnshire came in fourth with an average asking price of £201,976 and Ilfracombe, Devon in fifth with an average asking price of £266,353.

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All three of these areas have seen a 22 percent increase in asking prices over the last year.

Since the pandemic began, there has been increased demand for homes in seaside areas.

Demand in coastal areas has often outstripped supply which has meant asking prices have increased.

Across all seaside locations in the UK, asking prices have increased by 13.9 percent on average compared to last year, outpacing the national average of 9.9 percent.

Strong competition for homes in coastal areas has meant that the property market moves at a faster pace.

The average time to find a buyer in a seaside location is 33 days.

On average, homes are finding buyers nearly three weeks (20 days) quicker than last year.

Tim Bannister, Rightmove’s Director of Property Science said: “We’re in a unique position to be able to see activity across the whole of the market, which gives us a strong indication of how buyers are behaving in real time.

“We know that demand, which we measure by enquiries to estate agents from prospective buyers on Rightmove, is often a lead indicator of price, and right at the start of the pandemic when the market re-opened, we saw a huge surge in demand for these coastal areas as people wanted a sea view or more space near the coast.

“There have been large periods where demand has greatly outstripped supply over the last couple of years which has contributed to the significant rise in asking prices we’re seeing today.

“Encouragingly, with new stock coming to market we are starting to see signs of a better balance of supply and demand in seaside areas than we were a year ago, and we’d expect this to filter through to the market and potentially moderate the pace of price rises in the coming months.”

Rightmove’s coastal house price hotspots UK:

1. Canford Cliffs, Poole, Dorset

2. Brixham, Devon

3. Abergele, Conwy (County of)

4. Skegness, Lincolnshire

5. Ilfracombe, Devon

6. Gorleston-on-Sea, Norfolk

7. Burnham-on-Sea, Somerset

8. Paignton, Devon

9. Dawlish, Devon

10. Ryde, Isle Of Wight

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