Royal hideaway tops seaside property league
- Holiday homes of the rich & famous boost Rock's prices -
19th June 2009
Favoured by the likes of Princes William and Harry, Rock in Cornwall has topped the Seaside Property Hotspot League, with average home values currently standing at £548,621 - over £370,000 more than average coastal values researched across the UK.
Despite seeing values drop 12.9 per cent over the past year, Britain's answer to St Tropez was the clear leader, ahead of scenic Milford on Sea in Hampshire (average £335,030) and golfing hotspot North Berwick in East Lothian (average £293,598).
Property website Zoopla.co.uk, which provides free value estimates and sold prices for every UK home, compiled the Seaside Property Hotspot League by comparing average home values and property price changes for all UK coastal resorts from 1st June 2008 to 1st June 2009.
Woolacombe in Devon was fourth in the league with values of £286,730 whilst the top five was rounded off by Southwold in Suffolk where a working lighthouse, beach huts and an award-winning pier helped the seaside retreat to a current average property value of £285,468.
Seaside havens in the southwest counties of Cornwall, Devon, Dorset and Hampshire dominated the top ten, although properties in Pembrokeshire and Gwynedd in Wales also scored highly in the league.
Over the past 12 months, the biggest seaside value drops were seen by properties in Kent, where house prices have fallen 20.1 per cent in Ramsgate and 18.7 per cent in Broadstairs. Burnham on Sea in Somerset was the third worst performer over the past year with a drop of 18.6 per cent.
Coastal resorts where property prices have held up best in the market downturn, were led by some of Wales's largest coastal resorts after average property values in Llandudno dropped by just 4.3 per cent and Llangrannog by just 4.7%, followed by popular Cornish family resort Looe where values dropped by only 5.9%.
With house values over £330,000 higher than the Cornish average, residents of Rock also pay the biggest premium in the UK to live in the exclusive village. Popular Abersoch in Wales is next with a premium of £131,000, followed by the harbour village of Porthgain in Pembrokeshire where values were £113,000 over the average for the county.
The figures revealed that North Berwick is home to the most expensive seaside properties, with the average detached property setting you back a cool £504,261, semi-detached £283,589, flats coming in at £245,530 and the average terraced house a hefty £279,606. Properties in Milford-on-Sea and Sidmouth also scored highly in the value stakes across all property types.
Alex Chesterman, CEO of Zoopla.co.uk commented:
"Zoopla.co.uk's Seaside Property Hotspot League paints a clear picture of which much loved British coastal areas have retained value and those where values have slumped despite their picturesque and desirable location.
"With property searches on Zoopla.co.uk now at a rate of over one per second, we are seeing clear evidence of increased market interest. Providing that buyers gain confidence that the price declines are slowing and sellers are realistic with their expectations, we are likely see a recovery in market activity in the last half of 2009 which in turn will lead to a recovery in prices."
For those who wish to keep track of their most valuable asset - or check out the value of anyone else's - Zoopla.co.uk is the ultimate tool, providing free instant value estimates on any UK home, along with sold prices, current properties for sale and to rent, local information and market trends.
- Ends -
For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.
Notes to editors
Results at a glance
The Seaside Hotspot Property League coastal average value is £175,422, based on a property-weighted average of post town value estimates across the 120 seaside property hotspots that were researched.
The top 10 seaside property hotspots are as follows
| Town | County | Average home value (£) | 12 month change (%) | 12 month change (£) |
|---|---|---|---|---|
| Rock | Cornwall | 548,621 | -12.90% | -41,335 |
| Milford-on-Sea | Hampshire | 335,030 | -11.42% | -41,232 |
| North Berwick | East Lothian | 293,598 | -11.68% | -38,818 |
| Woolacombe | Devon | 286,730 | -8.81% | -27,704 |
| Southwold | Suffolk | 285,468 | -14.98% | -50,286 |
| Abersoch | Gwynedd | 278,473 | -9.27% | -18,245 |
| Porthgain | Pembrokeshire | 278,415 | -11.11% | -20,869 |
| Sidmouth | Devon | 276,981 | -13.05% | -41,559 |
| Lyme Regis | Dorset | 266,792 | -9.85% | -29,138 |
| Swanage | Dorset | 247,235 | -11.05% | -30,729 |
The 10 highest seaside property value drops are as follows
| Town | County | Average home value (£) | 12 month change (%) | 12 month change (£) |
|---|---|---|---|---|
| Ramsgate | Kent | 147,409 | -20.14% | -37,164 |
| Broadstairs | Kent | 200,995 | -18.68% | -46,174 |
| Burnham-on-Sea | Somerset | 173,807 | -18.61% | -39,743 |
| Hastings | East Sussex | 173,059 | -18.50% | -39,293 |
| Newquay | Cornwall | 208,069 | -18.17% | -46,191 |
| Littlehampton | West Sussex | 206,558 | -17.77% | -44,634 |
| Herne Bay | Kent | 179,380 | -17.76% | -38,720 |
| Paignton | Devon | 179,592 | -17.34% | -37,676 |
| Clacton-On-Sea | Essex | 146,245 | -17.32% | -30,637 |
| Bognor Regis | West Sussex | 197,745 | -17.26% | -41,255 |
The 10 lowest seaside property value drops are as follows
| Town | County | Average home value (£) | 12 month change (%) | 12 month change (£) |
|---|---|---|---|---|
| Llandudno | Gwynedd | 169,024 | -4.33% | -7,653 |
| Llangrannog | Ceredigion | 171,214 | -4.68% | -8,060 |
| Looe | Cornwall | 212,580 | -5.89% | -13,296 |
| Milford Haven | Pembrokeshire | 137,283 | -6.18% | -9,036 |
| Sheringham | Norfolk | 194,533 | -6.79% | -14,177 |
| Tenby | Pembrokeshire | 197,028 | -7.27% | -15,449 |
| Perranporth | Cornwall | 209,775 | -7.41% | -16,788 |
| New Quay | Ceredigion | 165,799 | -8.39% | -15,186 |
| Hayling Island | Hampshire | 235,112 | -8.57% | -22,029 |
| Saundersfoot | Pembrokeshire | 196,715 | -8.60% | -18,503 |
The top 10 premiums are as follows
| Town | County | Average home value (£) | Average County home value | Premium (Difference) |
|---|---|---|---|---|
| Rock | Cornwall | 548,621 | 210,310 | 338,311 |
| Abersoch | Gwynedd | 278,473 | 147,073 | 131,400 |
| Porthgain | Pembrokeshire | 278,415 | 165,289 | 113,126 |
| Milford-on-Sea | Hampshire | 335,030 | 227,691 | 107,339 |
| Southwold | Suffolk | 285,468 | 182,904 | 102,564 |
| North Berwick | East Lothian | 293,598 | 193,369 | 100,229 |
| Llanddona | Isle of Anglesey | 232,001 | 152,845 | 79,156 |
| Woolacombe | Devon | 286,730 | 209,575 | 77,566 |
| Sidmouth | Devon | 276,981 | 209,575 | 67,406 |
| Llansteffan | Carmarthenshire | 201,212 | 140,739 | 60,473 |
Top 5 most expensive seaside areas for detached properties
| Town | County | Average detached home value | Average home value |
|---|---|---|---|
| North Berwick | East Lothian | 504,261 | 293,598 |
| Milford-on-Sea | Hampshire | 422,118 | 335,030 |
| Sidmouth | Devon | 367,916 | 276,981 |
| Rock | Cornwall | 365,226 | 548,621 |
| Swanage | Dorset | 344,842 | 247,235 |
Top 5 most expensive seaside areas for semi-detached properties
| Town | County | Average semi-detached home value | Average home value |
|---|---|---|---|
| North Berwick | East Lothian | 283,589 | 293,598 |
| Milford-on-Sea | Hampshire | 248,528 | 335,030 |
| Southwold | Suffolk | 246,652 | 285,468 |
| Brighton | East Sussex | 229,987 | 227,822 |
| Swanage | Dorset | 228,907 | 247,235 |
Top 5 most expensive seaside areas for flats
| Town | County | Average flat value | Average home value |
|---|---|---|---|
| North Berwick | East Lothian | 245,530 | 293,793 |
| Sidmouth | Devon | 217,762 | 276,981 |
| Southwold | Suffolk | 212,997 | 285,468 |
| Milford-on-Sea | Hampshire | 195,070 | 335,030 |
| Llanddona | Isle of Anglesey | 194,533 | 232,001 |
Top 5 most expensive seaside areas for terraced properties
| Town | County | Average terraced home value | Average home value |
|---|---|---|---|
| North Berwick | East Lothian | 279,606 | 293,793 |
| Southwold | Suffolk | 269,151 | 285,468 |
| Brighton | East Sussex | 248,213 | 227,822 |
| Milford-on-Sea | Hampshire | 233,611 | 335,030 |
| Lyme Regis | Dorset | 214,583 | 266,792 |
About Zoopla.co.uk
Zoopla.co.uk is a unique property website offering users information and tools to help them make better-informed property decisions. Our aim is to provide the most comprehensive source of residential property market information in the UK to help buyers, sellers, owners and estate agents alike and give them an advantage in the property market.
In 2007, following the success of bringing DVD rental to the web with LOVEFiLM.com, Zoopla founders Alex Chesterman and Simon Kain realised that the UK property market had yet to fully enjoy the benefits of the internet in terms of its ability to deliver transparency and efficiency. They set out with the mission to transform the property market for both professionals and consumers by:
- offering users FREE access to instant value estimates, sold house prices and local information and trends
- enhancing estate agents' marketing efficiency by providing exposure/leads on a pay-for-performance basis
- helping users find local agents and other property professionals to assist them in the transaction process
- letting buyers make offers on ANY UK home and owners test interest in their homes before choosing to sell
- creating an environment where anyone can ask/answer questions and share their knowledge about homes
We have started by providing FREE value estimates, sold prices and local information as well as letting users add content by editing information and uploading photos. We are the UK's fastest growing property website and by far the largest and most active property community in the UK, with over a million user contributions to our website in 2008 alone. We have already launched some unique features, like TemptMe™ and AskMe™, which allow consumers to gain an insight into the market and discover information they won't find anywhere else. Our estate agent directory, FindAnAgent and our unique AskAnAgent feature allow users to contact local professionals directly for their expertise. Very soon we will begin accepting estate agent listing feeds and delivering buyer leads to agents on a no-risk, performance-based model, making Zoopla.co.uk the most cost-effective way for agents to gain exposure and develop their inventory pipeline.
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Zoopla.co.uk Awards
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