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Top dollar for seaside property

Wednesday, 28 May 2008 12:00 AM

Despite the worsening conditions in the wider UK property market, buyers are still willing to pay top-dollar for properties by the coast, according to new research.

A survey released today by property website PropertyFinder.com reveals one in five will happily pay more than 20 per cent more for a house with a sea view.

Moreover, a further 52 per cent will pay up to 10 per cent more.

"It is a good sign house hunters are still willing to pay top dollar for homes with sea views; it would seem that the turbulence in the property market recently hasn't completely destroyed consumer confidence," said PropertyFinder major clients director, Nick Leeming.

The survey also found the most popular seaside destination was Brighton, which was selected by 29 per cent of respondents.

Runners up chosen by potential buyers were Bournemouth (27 per cent), Porthcawl in Wales (14 per cent), Southend-on-Sea (13 per cent) and Christchurch (11 percent).

"It is also good news for people who already own property by the seaside, who might have had concerns about selling in the current market," said Mr Leeming.

"A startling three per cent actually said they would pay over 45 per cent more for a sea views. There is definitely money to be made on seaside properties, especially in the popular destinations such as Brighton and Bournemouth."

The findings come despite research from the Royal Institution of Chartered Surveyors (Rics), showing new right of way laws could adversely impact coastal property prices.

Chris O'Toole

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