Sandbanks is a notoriously expensive and exclusive place to live, although according to Lloyds Bank, properties in the Dorset enclave have fallen 3% from a year ago. That still means the average house price in Sandbanks stands at £965,708, while second on Lloyds’ list is Salcombe, Devon, where average property prices have climbed to more than £820,000. But with the average price of a property on or near the coast at £295,001, there are other places to consider.
Although it’s over 100 miles south west of Sandbanks, Plymouth is being seen as a desirable and cheaper alternative to its Dorset neighbour. House prices in the Devon town come in at an average £248,668, according to Lloyds
Plymouth saw the second-highest combined value of coastal home purchases over the past year at £810million and the largest number of coastal area property transactions in the last 12 months at 3,258.
Heather Porter, a Plymouth estate agent, told This is Money: “Plymouth is a real gem for buyers, and I’m seeing strong interest across all price brackets.
“The unique combination of stunning waterfront living with genuine affordability compared to other coastal locations puts Plymouth firmly on the map.”
Andrew Hampton, a property consultant, told This is Money: “Plymouth has something really special about it.”
Amanda Bryden, head of mortgages, Lloyds, said coastal living continues to hold a special appeal.
She said: “Whether it’s the lure of sea views, sandy beaches, or a slower pace of life. Our latest research shows the most exclusive seaside spots – like Sandbanks – still command premium prices.
“In some of the UK’s most desirable coastal towns, average prices have dipped slightly over the past year. But, over the longer term, values remain significantly higher – especially in the South West, where demand from lifestyle movers continues to shape the market.”
