Press Release Summary = This month\'s annual Halifax survey on the price of homes provided plenty of information on the state of property prices and popularity on the coast, with the guide to prices supplemented by its quality of life index readings for each of the 177 towns in the survey. This focused on a variety of criteria, such as employment levels, the standard of education and hospitals and the local environment.
Press Release Body = This month\'s annual Halifax survey on the price of homes provided plenty of information on the state of property prices and popularity on the coast, with the guide to prices supplemented by its quality of life index readings for each of the 177 towns in the survey. This focused on a variety of criteria, such as employment levels, the standard of education and hospitals and the local environment.
As a result, it was clear enough where the most expensive properties were (mainly in the south), which offered the best value for money (the east coast, with Bridlington the cheapest followed by Lowestoft and Great Yarmouth) and which had enjoyed the highest price rises (Scottish towns). In addition to this, the survey also concluded that seaside towns had an average premium of three per cent compared to the house price average for the counties they were part of, although there were discounts to be had in many regions, with seven of the 16 that were a fifth cheaper being in the south-east.
If, as the premium figures suggest, property in coastal areas is more sought-after and thus more expensive than neighbouring inland areas, this would suggest that certain groups have a particular desire to move there.
That group, of course is retired people. While, of course, some young people may want to live by the sea for various reasons (surfing fanatics might want to leave near the Atlantic coast of Cornwall, for instance), the popularity of many coastal areas with the old is well known, not least south coast resorts such as Christchurch, which topped the quality of life list, along with its neighbours Poole, which came seventh and Sandbanks, the most expensive coastal town.
Anne French of McCarthy and Stone, a retirement properties builder, confirms this: \"Coastal areas have traditionally always attracted large retired populations and continue to do so. It is often thought that the south coast boasts the strongest retirement market but we have found that other areas with well-established seaside resorts are equally popular with buyers.\"
She listed among these resorts such as Southend-on-Sea, Blackpool, Whitby and the south Wales coast.
In terms of quality of life, the Halifax index is only of limited relevance to retirees. Health services will be of major importance, while education and employment will not. Instead, Ms French states, companies like hers will need to look to develop more homes for pensioners in places that fit with their lifestyle priorities, both in terms of the type of homes - bungalows being popular through the absence of stairs - to their location near amenities such as shops and public transport.
All this matter, she states, for one major reason - demography: \"With the population of the UK ageing steadily, this demand can only increase.\"
For those seeking to invest in property in coastal towns, such demographic facts provide a new consideration that goes well beyond the details of the Halifax survey and into the nature of the needs and wants of the populations that reside in such areas.
2022
