As we are now well into the summer season many of us will have enjoyed long or short holidays by the sea. Many people desire to buy by the sea for its particular lifestyle, wonderful scenery and exceptional leisure facilities. There is a variety of property in coastal locations. It ranges from coastguard and fisherman’s cottages, new build developments, estuary mansions and converted dockside buildings.
As a result of this differing range of property types living by the sea appeals to a wide range of buyers. Often many coastal properties will be sold to local buyers looking to upsize or downsize within the area. However coastal living also attracts buyers from further afield, particularly those moving from London in search of a complete lifestyle change. Interestingly a significant portion of buyers are aged 50 and over and are buying with cash, which means the coastal markets are less effected by mortgage constraints.
There is clearly a cost attached to coastal living. People buying homes in close proximity to the coast are willing to pay over the odds for the benefits. Property located within 100m of the shoreline costs an average of 13% more than that located up to 1km further inland. However, the premium paid for frontline positions with direct views of the water can be considerably more. The most expensive coastline can be found in the south west of England closely followed by the south east. Surprisingly the area with the greatest premium within the 1km distance is the Welsh coast.
There is no doubt of the many benefits to be had from coastal living and with the now swift links to the capital, it is well within the reach of many.