The past year has seen people’s buying choices dramatically change as the lockdown led them to reassess what was important to them. As well as looking for more space, the trend has been for people to head to the coast; and now new research has revealed which coastal location has been the most in-demand for 2021.
Bournemouth Most In-Demand Coastal Location
The research has revealed that Bournemouth is the most in-demand coastal location of 2021.
Boasting a warm microclimate and 7 miles of sandy beaches, the Victorian seaside resort of Bournemouth can be found on the UK’s south coast. It’s little surprise that Bournemouth is popular with buyers when you consider it currently has nine blue flag beaches (Alum Chine beach, Durley Chine beach, Fisherman’s Walk beach, Southbourne beach, Branksome Chine, Canford Cliffs, Shore Road, Sandbanks and Manor Steps) and is bursting with popular attractions such as the Oceanarium, the pier, its parks and museums and boasts a plethora of outdoor leisure activities ranging from water sports to golf and cycling, as well as being the winner of numerous awards for its clean golden beaches.
Southampton is this year’s second most in-demand coastal location; Brighton third, Blackpool fourth and Poole fifth.
Average asking prices across the top ten in-demand coastal locations rose 6 per cent this year, just ahead of the national average rise of 5 per cent.
Padstow in Cornwall Tops Coastal Average Asking Price Table
Padstow in Cornwall topped the list of this year’s coastal average asking price hotspots. Average asking prices in Padstow rose 20 per cent this year, from £548,382 to £658,588.
Whitby, in North Yorkshire, came second, with prices rising 17 per cent from £217,620 to £254,218, while St. Ives, in Cornwall, where prices rose 15% from £411,484 to £473,161, came third.
Time To Find A Buyer Hits Record Low
This year the speed of the market has meant the time to find a buyer has hit a record low number of days. The average time it took to find a buyer across the whole of 2021 was 44 days, 15 days quicker than the average in 2020.
Saltcoats, Ayrshire, was this year’s quickest coastal location to find a buyer, at 19 days on average. Troon, in Ayrshire came second at 22 days, and Westward Ho, in Bideford, Devon was third at 24 days.
The research from property portal giant Rightmove, which was based on millions of supply, demand and pricing data points across the property market, looked at activity in coastal locations in 2021 compared with 2020, Tim Bannister, Rightmove’s Director of Property Data comments: “After a year where coastal locations really captured the imagination of British buyers, it’s interesting to reflect on how the overall picture looks at the end of the year. In terms of average asking price growth, homeowners in Cornwall and Devon are the real winners this year, with properties in some areas outpacing the national average, though this does mean that it is increasingly difficult for some locals to get onto the ladder. The speed of this year’s market really is astounding, seen in the time to find a buyer in some areas, particularly in Scotland.
Overall, this has been the year that either through changed lifestyle priorities, or the ability to work remotely, living in coastal areas has become possible for more buyers, which is reflected in the data we’re seeing in this study.”