Revealed! The coastal areas that have seen the biggest house price increases in 2021
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Without a doubt, the UK housing market had one of its hottest years in 2021. Stimulated by the Stamp Duty holiday, the market turned into somewhat of a frenzy. This year is likely to be a more normal one for the housing market, but strong buyer demand is set to carry over into 2022.
With the adoption of the hybrid model of work, some have set their gaze upon more rural areas in an attempt to escape the big city. With its picturesque beaches, the British seaside has captured the attention of homebuyers in 2021. Due to the increased demand, some of these coastal towns and villages have seen a big jump in annual asking prices, resulting in huge price growth.
According to Rightmove, these are the five areas that have seen the biggest house price increases over the past year.
1. Padstow, Cornwall
Alongside homebuyers looking for a change of scenery, Padstow is also popular among holidaymakers. With a few easily navigated harbours, the town remains a yachting haven and a fishing port. Due to high demand among buyers in 2021, the average asking price rose by a staggering 20% in 2021.
This means that the average asking price is now £658,588, up from £548,382. Despite this, with the picturesque scenery and the opportunity to be close to nature right at your doorstep, it is easy to see why Padstow topped this year’s list.
2. Whitby, North Yorkshire
The next entry takes us from the West Country all the way to North Yorkshire. The impressive remains of Whitby Abbey and the town’s cobbled streets, alongside its lively vibe and rich history, make Whitby a popular tourist destination. Moreover, you can enjoy the two sandy beaches on either side of the River Esk.
If that is not enough, there is a great mix of architecture from different periods – Georgian townhouses, Victorian terraces, stone cottages and contemporary modern homes.
With that in mind, it is no surprise that Whitby has seen an asking price increase of 17%. So you can expect sellers to be asking for an average price of around £254,218 in 2022.
3. St. Ives, Cornwall
Venturing back South, we head towards Cornwall again and the sandy beaches of St. Ives. Previously, the town was dependent on its fishing industry, but now the focus is primarily turned towards tourism. The sandy beaches and the favourable conditions make for a desirable location for surfing enthusiasts.
As well as enjoying the town’s beaches, visitors and locals can spend time enjoying themselves in the stylish town centre. This is why the average asking price in the area is now £473,161, an increase of 15% in 2021.
However, if you prefer a house with a sea view, you can expect an average asking price of well over £1 million!
4. Porthcawl, South Glamorgan
Twenty-five miles away from Cardiff and overlooking the Bristol Channel, Porthcawl is a charming town on the south coast of Wales. If you are looking for that beach life, this small town ticks all the boxes with its seven sandy beaches. And for those that enjoy being close to nature, the Wales Coastal Path offers an opportunity for picturesque walks.
Alongside the amazing scenery, Porthclawl has a great range of cafes, pubs and restaurants, where both visitors and homebuyers could spend time with friends and family. Over the past 12 months, the average asking price in the area has increased by 14% to £307,051.
5. Mablethorpe, Lincolnshire
East of the Lincolnshire Wolds is the seaside town of Mablethorpe. If you haven’t heard about it, it is because Mablethorpe is a bit of a hidden gem. Set between Cleethorpes and Skegness, the small town offers visitors a huge sandy beach with all the traditional attractions for children and families. There are plenty of cafes and restaurants, as well as a cinema, an aqua park, a crazy golf course and a seal sanctuary.
For those looking to climb the property ladder, there is a wide range of bungalows, contemporary houses and period terraced properties. Despite the asking price increase of 13%, you can expect to pay an average of £173,612 to buy a property here.
The rest of the top ten areas that have seen the biggest price increase
We’ve looked at the five areas with the biggest asking price increases, according to Rightmove. Here are the other five options that complete the top 10:
|
Name |
Annual asking price increase |
Average asking price |
|
Newquay, Cornwall |
13% |
£317,846 |
|
Filey, North Yorkshire |
13% |
£214,617 |
|
Pwllheli, Gwynedd |
13% |
£222,607 |
|
Brixham, Devon |
12% |
£299,127 |
|
Preston, Paignton, Devon |
12% |
£303,684 |
If you’re planning to move in the near future, check out the range of mortgage-related resources we’ve put together to make the process easier.
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