£90k premium for a sea view

Home buyers looking for properties with a view of the sea in Fylde can expect to pay a typical premium of almost £90,000, according to a national survey.

Friday, 20th July 2018, 3:45 pm
Updated Friday, 20th July 2018, 3:47 pm
Fylde boasts delightful sea views  but it comes at a cost, a new study has found

Analysis by property website Rightmove claims homes in seaside towns sporting a view of the beach have a price tag 29 per cent – or more than £68,000 – higher on average than those in the same town where the coastline cannot be seen from the windows.

Rightmove looked at all properties for sale under £1m in seaside towns across mainland Britain – and Lytham St Annes finished second only to Felixstowe, Suffolk, in terms of the highest percentage premium for a view.

According to the study, homeseekers would have to pay an average pay 38 per cent more – £325,530 compared to £235,691 –if they wanted to settle in Fylde with a sea view.

Rightmove director Miles Shipside said: “‘Sea view’ is certainly one of the most popular searches in a keyword sort feature on our website.

“That makes it easier for house hunters to focus on properties matching specific requirements and we believe sea views should be highlighted in photographs when seaside homes are advertised.

”With the views clearly a very popular feature, such images enable a prospective buyer to see just how great those views are before they book an appointment.

“Often, people will visit a town year after year for their staycation before deciding they would like to live there permanently and there is quite a variation in prices around the country.

“Our analysis removed any homes over £1m so as not to drive up the average prices in areas.

“Also, only towns with a minimum of 50 listings for sale with a sea view were included.”

Felixstowe topped the Rightmove table for sea view premiums at 57 per cent (£392,063 compared to £248,987 for no sea view), while the premiums for Lytham St Annes and Folkestone (£307,490 with view, £222.986 without) were both 38 per cent. The most expensive properties with a sea view are to be found in Hove, East Sussex, with an average asking price of £481,826, compared to £431,208 without a sea view – a premium of 12 per cent. The least expensive seaside town for properties with sea views is Morecambe, with sea view homes averaging £144,401, compared to £135,502 for those without – a premium of seven per cent.