Rightmove claims sea views attract whopping 29% premiums

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Rightmove claims that homes with sea views attract an average price premium of 29 per cent.

The analysis – aimed at publicising a new Keyword Sort feature – looked at all properties for sale under £1m in seaside towns and found that the average asking price for a sea view is £304,702 compared to £236,070 for a home without one.

The highest price premium is in Felixstowe on the Suffolk coast with a 57 per cent premium.

Overall asking prices in the town have gone up by 45 per cent over the past five years, compared to a national average increase of 27 per cent, helped by major investment in the town and along the seafront.

The second highest premium is in Lytham St. Annes in Lancashire with sea views proving to be a factor in sellers asking for a 38 per cent premium.

On average there are just under one in 10 homes in these seaside towns analysed by Rightmove that have a sea view, with this lack of choice helping to drive up the price that sellers can ask for.

The highest proportion can be found in Teignmouth and Paignton, both in Devon, where nearly a third of all properties up for sale offer a sea view.

The most expensive towns for properties under £1m are Hove in East Sussex followed by Broadstairs in Kent.

Hove asking prices have been driven up over the past five years by Londoners moving out and commuting in to the capital. Those looking for the cheapest places with a sea view could consider places like Morecambe and Cleethorpes where there are properties available for under £150,000.

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Written by: Houseladder

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