Properties with ocean views attract a property price premium of 30.4per cent – significantly higher than other water view premiums
River views attract a 23.6per cent premium and canal views a 17.6per cent premium compared to other local homes
Burnham Market attracts greatest property price premium for a waterside view of any UK location – river views here command an 87per cent premium
The appeal of a Swallows and Amazons lifestyle continues to excite British homebuyers, with many prepared to pay a considerable premium of almost a third more for a waterside lifestyle. The most valuable waterside view for a UK property is of the ocean, attracting a 30.4per cent price premium, according to the latest research from Jackson-Stops & Staff.
The news comes as the estate agent officially launches its Coast and Water division, which is dedicated to selling homes located along the more than 7,000 miles of waterside land within the UK.
Having analysed more than 30 of the UK’s most sought after and popular waterside locations, the research shows that ocean views command a property price premium of almost a third compared with other properties without this benefit, while river views generate a 24per cent boost in value and 18per cent for canal views. While all water views generate a significant premium for the homes they benefit, ocean views are by far the biggest income generators.
Nick Leeming, Chairman at Jackson-Stops & Staff, says, “The aspiration of owning a home with a view across water and living near features such as the ocean, rivers and canals has long been embedded in the British psyche. As an island we are surrounded by water and as a population our demand for living near the water is insatiable. As such all views across water in all the locations we analysed generated a strong house price premium for the homes they benefit – without exception.
“However, homes with views of the ocean generated by far the greatest uplift – boosting a property’s value by just shy of a third, compared to homes without this benefit. But it’s not just about the views; these homes generate substantial premiums because of the lifestyle benefits that accompany them. Walking, sailing, surfing and swimming are favourite British past times and with a focus on healthy living, never before has it been more in fashion to live in an area which affords a lifestyle of this type.