Britain’s house hunters continue to show their love of the coast and the affluent Poole suburb of Canford Cliffs has seen asking prices rise more than any other seaside area during the past year.
The Dorset hotspot saw newly-listed asking prices jump 24 per cent last month compared to a year earlier, reaching more than £1.2million on average, according to Rightmove.
More than two years on from the beginning of the pandemic, there seems to be no let up in desire for more open space, particularly near the seaside.
Across all seaside locations in Great Britain, asking prices are up 13.9 per cent on average compared to last year, outpacing the national average of 9.9 per cent.
Rightmove has revealed the coastal areas where asking prices have increased the most during the past year to April
Canford Cliffs has seen coastal asking prices rise the most: This five-bed house in the affluent Poole suburb is for sale for £2.2million via Savills estate agents
Residents in Dorset’s affluent Canford Cliffs enjoy easy access to beautifully well-maintained sandy beaches on the south coast
|Location||Average Asking Price April 2022||Average Asking Price April 2021||Average Asking Price YoY|
|Canford Cliffs, Poole, Dorset||£1,223,180||£987,752||24%|
|Abergele, Conwy (County of)||£234,613||£191,603||22%|
|Gorleston, Great Yarmouth, Norfolk||£224,066||£185,066||21%|
|Ryde, Isle Of Wight||£292,003||£246,454||18%|
In second place is the Devon fishing town of Brixton, where asking prices have increased 23 per cent during the past year.
And the Welsh market town of Abergele, in Conwy, takes the third slot, with asking prices up 22 per cent in a year.
Demand for homes has outstripped the supply of homes for sale in many areas in Britain and coastal areas are no exception.
Competition for homes in seaside locations during the past year means the pace of the market has increased.
The average time to find a buyer in a seaside location is 33 days, and on average, homes are finding buyers 20 days quicker than last year.
This modern five-bed family home in Canford Cliffs is on the market for £1,695,000 and is being sold by Savills estate agents
For those with a smaller budget, this two-bed flat in Canford Cliffs is for sale for £825,000 via Key Drummond estate agents
Steve Isaacs, of Luxury & Prestige Properties in Canford Cliffs, said: ‘Like many coastal areas, we have been incredibly busy for a long time, and we’re still seeing really strong demand to move to this part of Dorset.
‘One of the key things we’ve noticed influencing moves is that working patterns have changed. We’re seeing lots of people wanting to buy larger homes now that they spend more time working from home, and we’re also seeing new types of buyers looking in Canford Cliffs from outside the area now that their work has become more flexible.
‘Whereas before the pandemic we had many people interested in a holiday home, now we’re seeing more people looking for a property they can comfortably spend a good portion of the year in and work.
With more demand than homes available we’ve seen strong competition between buyers which has contributed to a growth in prices. One advantage of Canford Cliffs is its easy access to London and other parts of Great Britain, and we’ve had some buyers choose the area because of this.’
This modern three-bed house in Canford Cliffs is on the market for £785,000 and is being sold by Tailor Made estate agents
This flat in Canford Cliffs has three bedrooms and is on the market for £555,000 via Frost & Co estate agents
Tim Bannister, of Rightmove, said: ‘Right at the start of the pandemic when the market re-opened, we saw a huge surge in demand for these coastal areas as people wanted a sea view or more space near the coast.
‘There have been large periods where demand has greatly outstripped supply over the last couple of years which has contributed to the significant rise in asking prices we’re seeing today.
‘Encouragingly, with new stock coming to market we are starting to see signs of a better balance of supply and demand in seaside areas than we were a year ago, and we’d expect this to filter through to the market and potentially moderate the pace of price rises in the coming months.’