Have you ever dreamt of owning your own boat and spending lazy days sailing and fishing off our stunning British shores? If the answer is ‘yes’, and you don’t have your own private mooring, you are going to need to live near a marina where you keep your boat; but that will be expensive right? Maybe not!
In the UK approximately 3.9 million UK adults participated in boating activities in 2018, amounting to 7.3 per cent of the population. 690 thousand households in the UK actually own a boat, with approximately 0.5 per cent of the UK population owning their own small sailing boat.
As hobbies go, sailing is not the most affordable option. Even a modest vessel requires an annual budget running into five figures to pay for the cost of a berth, maintenance and running costs. However, don’t give up on your dream before it’s even begun. There is some good news for all the wannabe seafarers out there…
Research has found that some sailing hotspots are actually home to bargain prices as far as local property is concerned. In fact, research looking at house prices in 20 areas boasting some of the best marinas in the nation has found that you can buy a property near a marina for a lot less than the average cost of UK homeownership, currently £256,405. So, by saving on the cost of your home your expensive hobby becomes a more affordable option. Let’s take a look at the low-cost houses prices near popular marinas that the research found.
Most Affordable Marina Hotspots
It turns out that Hull came out top for being the most affordable marina to buy a property nearby. Hull Marina is the ideal base for sailors of all levels of expertise. From the bustling location, you can cruise to Whitby, Scarborough and Bridlington to the north and Wells-by-the-sea and the Norfolk ports of Great Yarmouth and Lowestoft to the south. Cruising to the continent is also a popular voyage from Hull. Making Hull Marina even more attractive is the fact that the average house price in the area is £120,837, which is 36 per cent cheaper than the wider cost of property in Yorkshire and the Humber.
For £22,000 more than Hull, Belfast also ranks as the second-most affordable marina to live near with average local house prices running at £142,934, which is 4 per cent less than prices in the wider Northern Island region. Portavadie Marina in Argyll and Bute is the third most affordable marina to live by with average house prices sitting at £160,359. Portavadie is followed by Maryport Marina in Allerdale in the North West with average local house prices of £160,403, Caernarfon & Abersoch Marinas in Gwynedd, Wales (£176,185), Royal Quays in North Tyneside in the North East (£177,317), Whitby Marina in Scarborough, Yorkshire & the Humber (£179,836), Mousa Marina in the Shetlands Scotland (£184,935), Plymouth Marina in the South West (£194,157) and Cowes in the Isle of Wight off the South East coast (£253,711).
Least Affordable Marina Hotspots
By contrast, Tower Hamlets, home to St Katharine Docks, is the least affordable overall with an average house price of £496,247. The Brighton and Hove local authority is also one of the most expensive sailing hotspots where property prices are concerned with average house prices coming in at £405,451.
Most Affordable vs the Wider Region
In terms of being the most affordable marina to live near when compared to the wider average price of property in the region, the marinas at Plymouth (-33%), the Isle of Wight (-27%), Allerdale (-13%) top the list. These are followed by homes near Southend, North Norfolk and East Suffolk marinas with prices 11 per cent lower than their wider respective regions.
Least Affordable vs the Wider Region
While North Tyneside ranks as one of the most affordable where average property prices are concerned, the area is actually home to the highest cost when compared to the wider region coming in 22 per cent more expensive than the average house price in the North East.
The cost of a home is also higher than the regional average in Devon (+21% more expensive), Brighton (16%), the Shetlands (11%), Dorset (10%), the New Forest (7%) and Bournemouth, Christchurch and Poole (7%).
Matthew Cooper, Founder & Managing Director of Yes Homebuyers which conducted the research, commented: “Owning a yacht or motorboat is a considerable investment and so living within close proximity of your berth means more time on the water to justify this cost while doing what you love.
The good news is, areas with some of the UK’s very best marinas can offer a good level of property affordability which is handy considering the cost of housing and running a boat can be hefty.”