Property News

Tuesday, August 29, 2006

West coast properties rise above East

According to the Halifax annual seaside town review, Britain's West coast comes out on top. The west coast has shown the strongest growth in property prices over the last 5 years with 14 coastal places rapidly rising in value compared to 6 in the east.

Nine out of the ten most expensive coastal towns were found in Cornwall, Dorset and Devon. Sandbanks, in Dorset was the most expensive where the average house price is £508,000.

In the last 5 years properties in Seaham, an east coast town in County Durham, have risen the most up 181% making the average home £115,643. This is followed by Pwllheli (176%), Rock (172%), Caernarfon (166%), Maryport (155%) and Tenby (150%).

Colin Kemp, managing director Halifax Estate Agents, says "while there have been some strong gains overall in seaside town property prices, it is the case they still offer relatively good value for buyers compared with property in other areas."

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