Where are the UK's cheapest seaside locations for buyers and renters?

Posted on Thursday, June 22, 2023

The latest analysis from Rightmove looks at the latest coastal trends and the cheapest locations for both renters and buyers alike. 

Saltcoats in Ayrshire is the cheapest seaside location for buyers looking to enjoy coastal living, according to new market analysis from Rightmove, with asking prices for a home there currently standing at £113,395 – less than a third of the average across Great Britain which is now £372,812.

For those looking to rent a home by the coast, Skegness is the cheapest location, with the current average asking rent for a home now £659 per calendar month, less than half of the Great Britain average of £1,396 pcm.

Meanwhile, Sandbanks in Dorset is the most expensive seaside area with an average asking price of £2,028,948, followed by Canford Cliffs (£1,219,804) and Milford-on-Sea (£764,859).

The south coast is the most popular area for home-movers, with Bournemouth the most in-demand area for buyers, while Southampton is most popular with renters.

For buyers at the start of their journey and searching for where they might want to live, Sandown in the Isle of Wight is the new hotspot, with searches for homes available for sale up by 34% compared to last year.

Preston in Devon is second on the list of buyer search hotspots, with searches jumping by 20% compared to last year, and Gourock in Renfrewshire is third (+13%).

For renters, the top hotspot is Scarborough in North Yorkshire, with searches for homes available to rent up by 39% compared to last year, while Saltburn-by-the-Sea in Cleveland is second (+33%) and Walton-on-the-Naze in Essex is third (+30%).

Rightmove’s property expert Tim Bannister said: “The significant increase in interest for coastal areas during the pandemic continues to influence many buyer and renter choices for where to live today, particularly with flexible working further away from traditional cities now more of an option for many people.”

Via @PropertyReporter