Coastal Towns See House Price Growth

House prices in the UK's seaside towns have witnessed particularly strong growth over the past five years, new figures reveal.

A study by Halifax Estate Agents shows that seaside towns along the west coast have seen stronger price growth than those along the east coast, with the west of the country responsible for 14 out of the top 20 seaside towns. Wales has seen house prices in seaside towns shoot up in recent years, with nine out of the top 20 towns located in the country.

The annual Halifax Seaside Town Review, which examines house prices in 98 seaside towns in England and Wales, reveals that the highest growth of between March 2001 and March 2006 was witnessed by the town of Seaham, near Sunderland, on the east coast, with 181 per cent.

Seaside towns with high average house prices have seen the smallest percentage increases, with the lowest rise in Sandbanks, Dorset, where prices increased by just 51 per cent over five years to £508,337. A total of 61 towns saw their average house price more than double over the five year period.

Halifax Estate Agents managing director, Colin Kemp, said: "Overall, coastal towns still offer value for home buyers. The majority of the towns we surveyed still have a lower house price than the average in their region."

Other towns seeing prices rise over 150 per cent between 2001 and 2006 were Pwllheli in Wales (176 per cent), Rock (172 per cent), Caernarfon (166 per cent) and Maryport (155 per cent); all located on the west coast. Halifax predicts that UK house prices will rise by five per cent this year.

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