Britain’s cheapest seaside ‘hidden gems’ to buy a house – and most expensive | Personal Finance | Finance

The average price of a seaside home in Britain has dipped by 1% over the past year, bringing the typical cost down to £295,991. However, new data from Lloyds Bank reveals that in some coastal areas, buyers can snap up properties for significantly less.

Amanda Bryden, head of mortgages at Lloyds, said: “There are still pockets of real affordability. For those willing to look beyond the traditional hotspots, there are some hidden gems offering great value and a strong sense of community.” Scotland dominates the list of most affordable coastal towns, with all 10 of the cheapest spots located north of the border.

Top of the list is Campbeltown, on the scenic Kintyre PeninsuWalesla, where the average home costs just £103,078 – down 11% in the past year. Once dubbed the whisky capital of the world, Campbeltown offers dramatic coastal views and access to the islands of Islay, Jura and Arran.

It’s followed by Rothesay (£111,764), Millport (£114,008) and Port Bannatyne (£115,421) – all island communities on Scotland’s west coast, nestled within the sheltered waters of the Firth of Clyde.

Outside of Scotland, you can still snap up a lower-than-average-priced home by the sea.

The least expensive location in England is Newbiggin-by-the-Sea in the North East, with properties averaging £132,863. Prestatyn tops the list of least expensive property locations in Wales, with homes averaging £192,331.

Here are the nine least expensive coastal towns by region, according to Lloyds Bank’s data.

Least expensive coastal towns (by region)

• Scotland: Campbeltown – £103,078
• North East: Newbiggin-By-The-Sea – £132,863
• North West: Fleetwood – £146,338
• Yorkshire and The Humber: Withernsea – £148,402
• Wales: Prestatyn – £192,331
• East Midlands: Skegness – £202,559
• East of England: Lowestoft – £238,37
• South East: East Cowes – £239,605
• South West: Plymouth – £248,668

On the other end of the scale, some towns have seen price growth of as much as 68%. It comes as, while prices have dipped overall by 1% year-on-year recently, coastal prices are up by 18% over the past five years.

In premium locations, it’s an increase of 37%, adding £168,408 to the cost of a typical high-end coastal home. St Mawes in the South West saw the biggest increase over this period, adding £222,602 (+68%) to the price of the typical property.

Brighton saw the highest combined value of coastal home purchases over the last year, with deals totalling just over £927 million. This was followed by Plymouth (£810 million) and Poole (£802 million). Overall, the housing market for coastal locations in Great Britain was worth around £21 billion last year.

Plymouth also saw the most transactions (3,258), followed by Bournemouth (2,195) and Brighton (1,982).

Here are the nine most expensive coastal towns by region, according to Lloyds.

Most expensive coastal towns (by region)

• South West: Sandbanks – £965,708
• East of England: Aldeburgh – £619,693
• South East: Lymington – £608,253
• Scotland: St Andrews – £458,381
• Wales: The Mumbles – £417,043
• North East: Whitley Bay – £310,918
• North West: Grange-Over-Sands – £308,419
• Yorkshire and The Humber: Whitby/Robin Hood’s Bay – £299,161
• East Midlands: Chapel St Leonards – £214,802.

Ms Bryden said: “Coastal living continues to hold a special appeal – whether it’s the lure of sea views, sandy beaches, or a slower pace of life. Our latest research shows the most exclusive seaside spots – like Sandbanks – still command premium prices.”

However, she noted: “It’s also important to recognise that not all coastal areas share the same fortunes. Some seaside towns face significant challenges, from seasonal economies to a lack of affordable housing for local people.”