Many of Britain’s once-glorious seaside resorts have experienced a sharp decline, as evolving holiday trends and the nation’s overall economic downturn have left them a mere shadow of their former glory.
However, one location in Dorset is defying this trend, with properties commanding an average asking price of approximately £1.28 million.
Sandbanks, a small peninsula spanning the mouth of Poole Harbour, has been highly praised by visitors for its soft golden sands, crystal clear waters, and stunning scenic views – which have attracted former residents such as Geoffrey Boycott, Harry Redknapp and even rock and roll legend Liam Gallagher.
In 2005, the BBC reported that property prices on the two-mile peninsula were higher per square foot than in Singapore, New York or Paris, and 20 years later, little has changed.
While house prices in the area have slightly decreased over the past year, asking prices are still over three times more expensive than the national average of £378,240, according to data from Rightmove.
Sandbanks, often referred to as “Britain’s Palm Beach”, continues to boast some of the most coveted seafront properties in the country.
Rightmove states that Sandbanks is currently the only coastal area in Britain with average asking prices exceeding the £1 million mark.
Canford Cliffs, located just down the road, came second in the seaside property rankings with average prices of £974,635. This area has also seen a drop of around 9% in average house prices.
Milford-on-Sea in Hampshire clinched third place with an average property asking price of £728,460, as revealed by a study that scrutinised over 200 coastal locations across Great Britain for their real estate values.
If you’re on the hunt for a seaside steal, look no further than Saltcoats in Ayrshire, crowned the most affordable coastal spot with homes averaging at £114,365.
Easington in County Durham follows closely with properties around £122,520, while Peterlee, also in County Durham, grabs the bronze with average house prices at £124,593 – noting a 15% increase from the previous year.
In a surprising twist, Glasgow, Bristol, and Edinburgh are now outpacing Devon in terms of search popularity, as buyers show a growing preference for urban living. London remains the top-searched location, with Cornwall holding firmly onto second place.
Rightmove’s property expert Tim Bannister commented: “Whilst the pandemic-driven surge for seaside areas has calmed down and reversed back to more normal levels, areas around Great Britain’s coast continue to be popular with many people.
“Particularly at this time of year, many people consider what a home by the sea and away from the hustle and bustle of a city could look like, or perhaps explore estate agents’ windows while on holiday.”
Steve Isaacs, Director at Luxury and Prestige Realty in Poole, commented: “It’s been a positive first half of the year for us, even with mortgage rates staying high and the election called.
“The areas of Sandbanks and Canford Cliffs continue to be very popular, and prime waterfront properties in Sandbanks have been doing particularly well. For those that can, the lifestyle of living in a beautiful location by the sea will always be appealing and is not to be underestimated.”