Homes with a sea view cost up to £220,000 more as buyers prepared to splash out on coastal locations

Buyers hunting for a coastal home know they'll need to pay over the odds to secure one of these in-demand properties.But add a sea view to the wish list and they can expect to hand over as much as £222,000 more for the pleasure in some coastal spots, new research reveals.Property portal Rightmove probed asking prices in seaside towns across the country, and found that the price tag of a sea view property has soared by more than a quarter in the past seven years.Asking prices climbed from £235,635 in 2019 to £298,810 – a 27 per cent rise. That’s higher than the average national average climb of 22 per cent over the same period.Colleen Babcock, of Rightmove, says: ‘A sea-view has long been seen as one of the most desirable features a home can offer, and our latest analysis shows buyers are willing to pay a significant premium for one.‘While some of Britain’s most prestigious coastal locations continue to command the highest prices, we're also seeing notable growth in more affordable seaside areas, suggesting that sea-view homes are becoming increasingly valuable across a wider range of the market.‘For buyers, it highlights the importance of considering not just the property itself, but the lifestyle and setting that come with it.’ Steep: Homes with a sea view in one area of Essex are listed for £655,479 on average, which is £220,000 more than other properties nearby that don't have one Where have prices gone up the most? The East Midlands and Yorkshire and the Humber have seen the biggest price increases for sea view homes since 2019, with gains of 55 per cent and 53 per cent, respectively, according to Rightmove.But the South East is the most expensive region for a sea view property, with asking prices now at £416,375 on average, followed by the South West at £398,764.But when it comes to the exclusive locations with the biggest seas view premiums compared to other regular coastal homes, West Mersea in Essex takes the top spot.Sea view houses here are listed for a whopping £655,479 on average, 51 per cent more than the other coastal homes in the area.That’s a premium of more than £222,000. Next is Frinton-on-Sea, also in Essex, with sea view homes costing £492,344, a 36 per cent premium compared with other coastal homes in the town.Also in the top ten spots for biggest premiums are Broadstairs in Kent, Littlehampton in West Sussex and Newquay in Cornwall.Ian Harris, president of estate agency group Propertymark, says families are willing to pay over the odds for sought-after features in areas with limited supply of homes.‘The pandemic prompted many people to reassess what they wanted from their home, with lifestyle, wellbeing and access to outdoor spaces becoming increasingly important considerations. 'Whilst the market has since stabilised, those changing priorities have left a lasting legacy, and many coastal locations continue to attract buyers who value quality of life alongside their property investment.‘Greater workplace flexibility has also widened the appeal of living by the coast, making it a realistic option for more people than it was before 2020.‘At the same time, many coastal communities have a limited supply of homes, meaning sustained demand can have a noticeable impact on property values, particularly where sought-after features such as sea views are concerned.’But buyers shouldn’t be lured in by the view alone. Look for decent transport links, flood resilience, low insurance costs and future resale potential, too. LOCATIONS WITH BIGGEST COASTAL HOUSE PRICE PREMIUM Location Average coastal asking price Average sea-view asking price Difference Premium West Mersea, Essex £433,185 £655,479 £222,294 51% Frinton-on-Sea, Essex £361,645 £492,344 £130,699 36% Broadstairs, Kent £399,337 £528,280 £128,943 32% Littlehampton, West Sussex £381,117 £501,813 £120,696 32% Newquay, Cornwall £334,291 £430,284 £95,993 29% Exmouth, Devon £352,044 £448,513 £96,469 27% Worthing, West Sussex £370,021 £469,283 £99,262 27% Ryde, Isle of Wight £284,514 £354,587 £70,073 25% Penzance, Cornwall £333,104 £402,657 £69,553 21% Boscombe, Dorset £285,939 £343,408 £57,469 20% Best mortgage rates and how to find them Mortgage rates have shot up again due to inflation triggered by the conflict with Iran reversing hopes that the Bank of England would cut rates. 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