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  • Property Prices

    Sea view properties attract 33% price premium



    New research has shown that properties with a sea view attract a price premium, on average, of 33%.

    Full/source article - Estate Agent Today 

    This is why Nick and I came up with the phrase "coastal appreciation".  We believe that property prices on the coast will be far more robust and this latest research seems to support that.

    SEE ALSO  -           Coastal property rocks!

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    Air and noise pollution is a major factor in 'coastal appreciation'

    Or rather the lack if it!!

    Very little NOx gases that you find in Central London.

    No city noises, though of course you get noisy gulls!

    Apparently though shipping causes a lot of atmospheric pollution.

    So if near a port or adjacent coastal shipping lanes then the sea air may not be what you might expect!!

    (*Moderator note: Content removed*).

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    This is not really a good analogy in my opinion. The coastal location is not the only thing that raises the price in almost any case - Sunderland and Grimsby would be hotspots too

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    Tom

    Of course it isn't just the coast per se that attracts such price differentials

    It is the quality of the coastal environment chosen.

    For some reason it was moderated out.

    But I made the point that if you moved the population of Tower Hamlets to Whitby there would be rapid coastal property depreciation.

    That is just a simple reality.

    The coast appreciates as there is usually far less diversity in local population which tends to attract people in and of itself.

    It is not just because it might be a coastal property.

    It is a fact that populations in coastal communities tend to be less diverse and this tends to attract people who prefer less diverse areas.

    Such people cannot go any further to avoid diversity or they would be in the sea!

    They reason that coastal living is about as much as they can do to avoid diversity.

    Doesn't always work of course especially in poorer coastal communities where diversity then tends to occur.

    So you have to pick your coastal area intelligently.

    They aren't all alike!

    As you suggest Sunderland isn't like Whitby or Eastbourne etc.

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    During my 2nd marriage we lived for some time in Maidenhead:  We renamed the house "Seaview" with a lovely wrought-iron sign thereof.


    Made no bleedin' difference to the price....


    Now on 3rd successful marriage, remarried Mrs wife 2... (don't ask about legal costs, I'll start crying...)

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    Oh!!

    You made me crack up!!!

    Thankyou

    I don't laugh that often!!

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    Rightmove claims that homes with sea views attract an average price premium of 29 per cent.

    The analysis - aimed at publicising a new Keyword Sort feature - looked at all properties for sale under £1m in seaside towns and found that the average asking price for a sea view is £304,702 compared to £236,070 for a home without one.

    The highest price premium is in Felixstowe on the Suffolk coast with a 57 per cent premium. 

    Full/source article

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    I've been saying the Suffolk coast is booming for some time on here, love it here

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    Prices for prime waterfront properties in Britain are as much as 80% higher than comparable properties inland, rising to 133% for properties with a private slipway, new research has found.

    The highest premium at 105% is in the South West of England, followed by 96% in London, 51% in East Anglia, 46% in the South East, 44% in Scotland and just 25% in Wales, according to the waterfront index from real estate firm Knight Frank, compiled from valuations from experts across the country.

    The index measures the potential value uplift for prime homes on the water’s edge, or within close proximity to water, compared with similar properties located further inland without access to, or a view of, water.

    The most expensive type of waterfront home is one with a slipway, commanding premium of 133%, followed by homes with a mooring at 121%, homes with a pontoon at 120%, a jetty adds 110%, while private access to a beach a premium of 96% and a sea view 78%.

    When it comes to the actual location on the waterfront, a home on an estuary has a price premium of 108%, followed closely by one by a harbour at 107%. A home on the coast commands a premium of 77% and by a riverside 77% while by a lake has a premium of 50%.

    Full/source article

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    A new survey has found that the desire to live close to water is as strong as ever in the UK.

    According to the research conducted by Strutt & Parker, 26% of under-35s and 36% of 35-39s are actively looking to live near water within five years, showing that the trend is is being particularly driven by young adults.

    In contrast to the popular perception that it's mostly older retirees who aspire to live by the water for health and relaxation reasons, the survey results highlight that over a quarter (26%) of under-35s and over a third (36%) of 35-39s are actively looking to live near water within five years, along with and 27% of 40-44s. This compared to just 12% of over-45s. There is an element of nostalgia for under-35s, with 16% wanting to return to their childhood home.

    Whilst people either aspired or did move to a waterside location at the average age of 43, the results demonstrated that four in ten (41%) adults want to move to be closer to the water before the age of 35.

    Full/source article

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