Seaside homeowners in the money
Property developer Richard Carr works predominantly in the south West of England in Poole working on properties on both the coast and inland – and it’s the South West of England which commands the biggest price increase with an extra 91% on average.
Furthermore, properties with private slipways have the potential to push the price upwards of 100% to a staggering 118%.
The South West has one of the longest coastlines of any English region and includes some of the country’s most expensive waterfront hotspots such as Sandbanks, Rock and Salcombe.
Waterfront desired by buyers from abroad
According to Knight Frank’s latest piece of research, it’s not just Brits that love to by the sea. Their data suggests that individuals from all over the world are searching for homes by the waterfront in the UK. The majority of potential buyers from abroad were either from Europe or Asia Pacific.
As well as decent views, local amenities also contribute to the rise in house prices said Oliver Knight of the firm’s residential research team: “Amenities are also a crucial factor for many buyers and having direct access to water is something many people are prepared to pay a premium for. Private slipways are considered the most valuable feature, pushing up the waterfront premium up by as much as 118%.”
Away from the sea
Increase in value aren’t just experience on the coast though, inland properties close to lakes have also experienced an uplift in price. Lakeside homes are 40% more expensive than properties without a patch of water, whilst being situated next to a river can prove even more profitable. 67% can be added to the value of a prime residential property overlooking a river.