Sea View Homes Command 38% Premium
The latest research from Yopa has found that homebuyers looking to secure a sea view along England’s coastline can expect to pay a premium of up to 38%, with the average seaside uplift sitting at over £24,537,000 versus standard property prices.
The research from Yopa analysed current property listings advertising sea views across 20 English coastal counties, comparing the average price of these homes to the wider average house price in each area to reveal the seaside premium that buyers face for a view of the big blue.
It found that homes with sea views carry a typical price premium of £24,537, equivalent to an 9.5% uplift on the average house price for their respective counties. However, this figure varies significantly depending on the location.
Cornwall leads the way, where the average property boasting a sea view is listed for £392,853, compared to a general countywide average of £284,355 – a substantial £108,498 premium, or 38.2%.
The Isle of Wight ranks second, with a sea view premium of £73,957 (29.6%), followed by Northumberland, where buyers are paying an additional £36,637 (18%) for coastal scenery.
In East Sussex, sea view homes command a 17.7% premium (£57,246), while Durham and Tyne and Wear follow closely behind at 17.6% and 14.4% respectively.
Well-known coastal hotspots such as Devon, West Sussex, and Dorset also make the list, albeit with more modest premiums ranging from 5.5% to 12.2%.
In contrast, Somerset, North Yorkshire, and Essex show very little uplift in price for sea views, with typical premiums of less than 1%. In Suffolk and Norfolk, sea view homes are listed for just £3,110 and £3,752 more than the average respectively.
CEO of Yopa, Verona Frankish, commented:
“Coastal living has long been in demand, but this research shows just how much value homebuyers place on a sea view.
In areas like Cornwall and the Isle of Wight, you’re paying a significant premium for that lifestyle benefit. But it’s not the same story everywhere, buyers looking for more scenic surroundings without a huge price tag may find better value in places like Norfolk, Suffolk or Lincolnshire.
With more buyers re-evaluating where they want to live in a post-pandemic world, sea views remain one of the most desirable features a home can offer.”
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