Greenock Named As Cheapest Place To Buy A UK Seaside Home
Greenock is the least expensive seaside location in the UK to buy a home according to research by Halifax.
According to the bank's analysis, seven of the top 10 most expensive seaside spots were in Devon and Cornwall.
The least expensive seaside location was Greenock, Scotland, where the average house price was £97,608.
Scottish locations dominated the top ten, with Girvan coming second at £105,410, followed by Millport at £111,381.
Saltcoats, Stranraer, Wick, Thurso, and Campbeltown also featured in the top ten.
The average price for a home in Gourock was found to be £155,879.
The most expensive seaside location to buy a home in was found to be Salcombe in Devon.
The average house price in the area is £1.2m.
No Scottish areas featured in the top ten most expensive places, with most being found along England’s southern coastline.
The figures were based on data from the Land Registry in England and Wales, and the Registers of Scotland.
Kim Kinnaird, mortgages director at Halifax, said: “For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits.
“When we delve deeper into the cost of Britain’s seaside homes, it’s clear that there is a broad spectrum in house prices.
“Whilst million-pound properties are abundant in the south west of England, in contrast, homes in Greenock in Scotland are valued on average at less than £100,000.
“Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations. While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play.
“Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore.”
Average house prices in the 10 most expensive seaside towns in Britain, according to Halifax analysis
Salcombe, Devon, South West - £1,244,025
Sandbanks, Dorset, South West - £952,692
Aldeburgh, Suffolk, East of England - £794,492
Padstow, Cornwall, South West - £790,847
Lymington, Hampshire, South East - £663,474
Yarmouth, Isle of Wight, South East - £611,816
Dartmouth, Devon, South West - £567,985
Kingsbridge, Devon, South West - £556,659
Wadebridge, Cornwall, South West - £548,669
Budleigh Salterton, Devon, South West - £537,681
The 10 least expensive seaside towns in Britain, according to Halifax analysis
Greenock, Inverclyde, Scotland - £97,608
Girvan, Ayrshire, Scotland - £105,410
Millport, Ayrshire, Scotland - £111,381
Invergordon, Ross and Cromarty, Scotland - £114,962
Saltcoats, Ayrshire, Scotland - £116,414
Newbiggin-by-the-Sea, Northumberland, North East - £117,663
Stranraer, Dumfries and Galloway, Scotland - £117,884
Wick, Caithness, Scotland - £124,857
Thurso, Caithness, Scotland - £126,716
Campbeltown, Argyll and Bute, Scotland - £129,348