How much would you pay to look at the ocean every morning?
According to a new report from Rightmove, you should expect to pay quite a bit extra for a house with a view of the sea.
Homes listed as having a sea view are priced over £86,000 higher, on average, than homes without, meaning there’s a 31% national asking price premium.
That’s a 4% rise from 2019, perhaps due to all our time in lockdown making us crave time in nature – a sea view is a lot more valuable now we’ve learned just how much our home’s setting matters.
The sea view price premium differs across the nation.
The South West has the biggest premium of 42%, with an average asking price of homes with a sea view at £415,296.
Cornwall is the county with the most homes advertised with a sea view (which makes sense) and Brighton and Hove is the city.
Average asking price of a sea view home:
- South West: £415,296
- North East: £209,370
- Wales: £323,800
- East of England: £331,153
- North West: £204,834
- South East: £371,385
- Yorkshire and the Humber: £185,542
- Scotland: £134,145
Average across Great Britain: £368,278
Rightmove’s Director of Property Data Tim Bannister said: ‘We know from our recent Happy at Home report that, across Great Britain, people who live in coastal areas are most content with where they live.
‘Whether it be weekend walks along the beach or catching a glimpse through the window of the shimmering water in the distance, people value that connection with the sea and enjoy life in the areas around it.
‘We’ve seen demand for coastal homes increase this year and so it stands to reason that homes with a sea view command a substantial price premium.’
Yes, an extra £86,000 on top of the price of a property is quite a bit, but considering all the evidence of the mental health benefits of living near water, maybe it’s worth it.
Shall we look at two coastal homes that are currently on the market?
The Studio, St Ives, £550,000
This two-bed property has incredible views over St Ives harbour to Smeatons Pier, and across St Ives Bay to the Atlantic Ocean beyond.
It’s a short walk to the beach, or you can sunbathe on the balcony.
The Brink, Gwynedd, £3,000,000
A five-bedroom beach house in Abersoch, providing beautiful views over Cardigan Bay to St Tudwals Islands and the Welsh mountains.
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