Seaside towns across Merseyside and Wales have emerged as the UK's fastest-growing property hotspots, defying a broader national slowdown in house price increases. According to a study by Rightmove, Bootle in Merseyside leads the surge with average asking prices climbing by an impressive 11 per cent over the past year, reaching £141,680. This localised boom contrasts sharply with the wider UK market, where average asking prices for properties coming to market are 0.3 per cent lower compared to last year.
Regional Variations
Other significant increases include Crosby in Merseyside, which saw a 9 per cent rise, and several Welsh towns such as Penarth and Llantwit Major, both recording 8 per cent increases. These figures highlight a notable divergence between coastal hotspots and the national property landscape.
Affordability of Coastal Living
Despite these specific increases, coastal living generally remains more affordable. Rightmove's analysis indicates that around 80 per cent of seaside areas studied have average asking prices below the national figure. This suggests that while demand is pushing up prices in certain locations, many coastal towns still offer relatively inexpensive housing compared to inland urban centres.
The data underscores the enduring appeal of seaside living, even as the broader market experiences a downturn. Factors such as lifestyle changes and remote working trends may be driving buyers to seek properties in these scenic areas.
