Sea View Homes Command Premium of Up to £220,000, Research Finds
Buyers are willing to pay significantly more for properties with ocean vistas, with price premiums reaching over 50% in some coastal towns.
Homes offering sea views are commanding a substantial price premium, with buyers paying up to £222,000 more for the desirable feature, according to new research. Property portal Rightmove analyzed asking prices in seaside towns across the United Kingdom and found that the average price for a sea view property has risen by 27% in the past seven years, from £235,635 in 2019 to £298,810.
This increase outpaces the national average property price climb of 22% during the same period. Colleen Babcock of Rightmove noted that sea views have long been a highly sought-after feature, and buyers are demonstrating a willingness to pay a significant premium for them. While prestigious coastal locations continue to fetch the highest prices, the research also indicates growth in more affordable seaside areas, suggesting sea-view homes are becoming more valuable across a broader market segment.
Regional and Local Price Differences
The East Midlands and Yorkshire and the Humber have experienced the most significant price increases for sea view homes since 2019, with gains of 55% and 53% respectively. However, the South East remains the most expensive region for a sea view property, with average asking prices currently at £416,375, followed by the South West at £398,764.
West Mersea in Essex recorded the largest premium, with sea view houses listed at an average of £655,479, representing a 51% increase—or over £222,000—compared to other coastal homes in the area. Frinton-on-Sea, also in Essex, followed, with sea view properties costing an average of £492,344, a 36% premium. Other locations in the top ten for price premiums include Broadstairs in Kent, Littlehampton in West Sussex, and Newquay in Cornwall.
Factors Driving Demand
Ian Harris, president of estate agency group Propertymark, attributed the willingness of buyers to pay more for sought-after features to limited supply in desirable areas. He explained that the pandemic prompted many individuals to re-evaluate their housing needs, with lifestyle, well-being, and access to outdoor spaces becoming paramount. While the market has since stabilized, these shifted priorities have had a lasting impact.
Harris also highlighted that increased workplace flexibility has made coastal living a more viable option for a greater number of people than before 2020. Coupled with a limited housing supply in many coastal communities, sustained demand can significantly influence property values, particularly for homes with desirable features like sea views. Buyers are advised, however, to consider other factors beyond the view, such as transport links, flood resilience, insurance costs, and potential resale value. IMAGE8
The analysis by Rightmove was conducted on asking prices in seaside towns, revealing a notable increase in the cost of properties with ocean vistas over the past seven years.