With the summer school summer holidays now upon us, many Brits are enjoying the warmer and lazier days, and that may help explain why there has been a spike in demand from buyers for properties in British coastal towns
According to Winkworth, which has offices in coastal hotspots in Brighton & Hove, Worthing, Southwold, Leigh on Sea, Westbourne, Southbourne, Poole, Milford on Sea, Mudeford, Highcliffe, and Dartmouth, registrations from applicants for coastal properties are currently 23% ahead of 2019.
Dominic Agace, Chief Executive of Winkworth, in the latest episode of Winkworth’s The Property Exchange podcast, was keen to point out that in fashionable Christchurch and Mudeford in Dorset, a beach hut sells for around the same price as a one-bedroom flat in the area.
Agace told the podcast: “The allure of coastal living is set to stay and grow. People are keener to holiday at home as climate change makes British coastal towns even more attractive, compared with the weather we are currently seeing across Europe and elsewhere. Flights abroad will be more expensive and people are becoming more environmentally aware and less keen to fly.
“Following Brexit and the pandemic, people have rediscovered the glories of Britain and the optimism of the seaside resort. Applicants for coastal properties this year are 23 per cent ahead of 2019, the last normal pre-pandemic year, while down on last year. We are seeing the middle ground now, from a massive boom during the pandemic when a lot of people felt that life was changing to full time working from home and seaside living.
“The hotspots are Polzeath in Cornwall, Salcombe in Devon and Southwold in Suffolk, where Winkworth has an office, and where the average sold price last year was £860,000. People will rent in these areas for years and when the right property becomes available, they will snap it up. Everyone has their own little part of coastal England where they went when growing up – one that they hold close to the heart.”
Simon Barnes runs the Winkworth offices in the coastal village of Mudeford and the seaside town of Highcliffe in Dorset. He describes how many buyers from London dip their toes in the water first.
He told the podcast: “We see many people buying a beach hut or a park home first to get to know the area before making a major move here when their kids are a bit older or when they’re retired. People come here for the lifestyle, the beaches, and watersports. That is uppermost in their minds.
“There are the best frontline huts on Avon Beach for around £120,000, not dissimilar to the price of a one bedroom flat in the area, starting at around £100,000 to around £175,000.
“Entry level for a family house in Friars Cliff is around £1m and around £1.5m will buy you a really good house. Christchurch Harbour has some stunning properties, a mix of modern and period, in the £4-£5m range, but these come up rarely.
“We sell the area first, the property second. A big part of our market consists of retirees. They want the right property, their money is safe, they’re set up so they are well insulated from turbulence caused by interest rates and market changes.”
