The report analyses price-paid data in postcodes within 50 metres of water, including rivers and the sea.
Coastal homes have been proven to have a price premium over similar properties in non-waterside areas. Currently, the average premium across the UK has reduced from 7% to 2% in 2023, which is equivalent to £10,000 more than non-waterside properties.
However, many regions still record substantial price premiums. In some areas, such as the Ribble Valley in Lancashire, the price premium is more than twice the price (210%) of homes not by the water.
Karl Ormerod, Director of Jackson-Stops Lancashire and the Sefton Coast, commented, “We are seeing more buyers look to the North for bigger properties with greater privacy, as waterside properties in the South can be so hard to come by due to their scarcity. The combination of reasonably priced housing, excellent transport links into the major cities of Manchester or Liverpool, and easy access to some of the UK’s most beautiful countryside is really driving demand, with Formby Beach, the Lake District, and the Pennine hills all within an easy drive.”
