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The Top 10 Coastal Locations by Price Increase Percentage You’ll Want to Know About if You Have a House to Sell

Coastal and countryside locations still remain popular choices following the pandemic and lockdowns that we have experienced in 2020 and 2021.

Understandably, when we were in lockdowns many people trapped in city apartments and homes with limited outside access dreamt of green countryside views and leisurely walks along the beach. If this is you maybe you are thinking of selling your house and moving to a coastal location.

According to the property experts at Rightmove, city dwellers looking to move to coastal locations have increased by a whopping 115%.

The rise in demand for coastal properties has led to a problem for those already living there, similar to that we have previously reported in countryside locations.

What this means is those who have grown up in an area or who are already settled in coastal towns and villages are being priced out of the market when they want to get onto the property ladder or move to their next home.  They have already been facing the problem of serviceable homes being bought as investments to be turned into holiday lets and are now being squeezed even tighter.  These coastal locations are often where wages are low, many can only find part-time work and the work is frequently seasonal which exacerbates the divide between city incomers and those already there.

What’s interesting about this trend is that from watching the property market in seaside holiday hotspots, there is an increase in holiday homes going onto the market.  The possible explanation for this is that people who have mortgages on these properties have struggled financially when they were not drawing the holiday let income during the lockdowns.  Even those who own the houses outright may be seduced by the increase in prices and faster sales in coastal areas and see it as a good time to cash in by selling a house.

We know there is a massive increase of people moving to the South West of England locations of Devon and Cornwall and that this is further creeping out to other more rural coastal places like Somerset, Norfolk, and Dorset.  What we were not expecting when perusing the latest table of price increases in coastal areas was that three out of five of the top locations for price increases are in Scotland, with the leaderboard being led by Helensburgh with Padstow in Cornwall, trailing 3% behind in second place.

Somehow the publicity of people moving to Cornwall has outshone the numbers forcing up prices in some of the beautiful coastal locations in Scotland.

Rightmove have a list of the Top 10 Coastal Locations that Show the Largest Price Increase since 2019:

Top ten coastal locations by asking price increase

Location Average asking price 2021 % increase asking price vs 2019
Helensburgh, Dunbartonshire £236,209 +27%
Padstow, Cornwall £624,896 +24%
Gourock, Renfrewshire £160,147 +21%
Hemsby, Norfolk £251,508 +21%
Girvan, Ayrshire £125,983 +20%
Newquay, Cornwall £302,711 +19%
Saundersfoot, Pembrokeshire £335,074 +18%
Cromer, Norfolk £281,557 +17%
Whitby, North Yorkshire £237,422 +17%
Rhyl, Denbighshire £145,247 +16%

 

List from www.rightmove.co.uk

A quick look on Zoopla  www.zoopla.co.uk/for-sale/property/helensburgh/  at properties for sale in Helensburgh, Dunbartonshire shows a trend that most of the properties on the market are flats and apartments.  Those flats for sale include the one in the photograph above which is available for offers over £60,000.

What the prices in Helensburgh demonstrate is that even though percentage-wise prices have risen it is still an affordable location for many people.  The average asking price above of £236,209 is not reflected in the much lower prices available when we searched in August 2021. Those with a house to sell in those locations on the list would do well to improve the saleability of the house they are selling (see our tips here). Improving the appeal when selling a house when prices are so good could lead to a fast sale.

Helensburgh

Helensburgh is a small town with a population of approximately 13,000.  The town is situated on the banks of the Gare Loch where it meets the Firth of Clyde.  Only approximately 20 miles from Glasgow University, and under an hour by train, it has the benefits of a waterfront location and the convenience of a major city being accessible close by.  The town has a golf course, an indoor swimming pool, an esplanade, and a pier.  Other sports include curling and bowling, there’s a sailing club and easy access to countryside walks and cycle routes.  All in all, take a look at Helensburgh and it’s easy to see the appeal.

What these low prices represent for some with a house to sell is that a bridging loan is easily accessible to buy the coastal property in Scotland whilst still selling your house.  There are others selling a house who may have enough in investments to buy a low-cost home on the coast of Scotland when they still have a house to sell with the plan of finding the perfect place and renting the smaller place out once the house to sell has sold.

Other properties for sale can be viewed online at various sites including those above and You Move https://www.your-move.co.uk/buy Looking at online lists is a useful way to gauge the market in an area when you have a house to sell and for the location where you want to move.