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News: Rock on, Cornwall!

Wed, 28 May 08

Halifax has revealed the UK’s best performing seaside towns over the last year...

The Halifax Estate Agents Seaside Town Review - which tracks house price movements in 97 seaside towns in England and Wales - has revealed that Rock in Cornwall was the best performing seaside town last year with an average house price increase of 28% from £282,097 in 2006 to £361,838.

The review also revealed that:

  •  Sandbanks in Dorset experienced the second highest price increase last year (22%) followed by Fowey (20%).

  • Sandbanks continues to be the most expensive seaside town with an average house price of£628,014. Nine of the ten most expensive seaside towns are in the South West.

  • 18 seaside towns experienced average house growth of 100% or more between 2002 and 2007.

  • Over the past five years, Seaham in County Durham recorded the biggest price rise amongst all the seaside towns surveyed with a 193% rise in average prices.  House prices in Seaham remain relatively modest at an average of £126,348 last year.

  • All 25 seaside towns recording the largest house price increases between 2002 and 2007 are outside Southern England with the exception of Rock.

  • Withernsea in the East Riding of Yorkshire is the least expensive seaside town with an average price of £116,923

Gordon Edwards, Managing Director at Halifax Estate Agents, commented: "Seaside towns again saw good house price growth last year.  Properties in quite a few seaside towns have more than doubled in price over the past five years. Many seaside towns trade at a significant premium to the house prices in the surrounding inland towns.

“We now expect some decline in property prices in seaside towns.  Whilst they are not immune to wider market developments, there will continue to be a premium for coastal properties as people will always like to live by the seaside ".    

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