New figures show that Salcombe now has the highest average house prices outside of London. New data shows that homes in the Devon town are now more expensive than in Sandbanks in Dorset, which has slipped from top to third in the list.

As summer hots up and everybody heads to the seaside, DevonLive asked estate agent comparison site GetAgent.co.uk to rank Devon’s seaside towns in order of the highest and lowest average prices. Not surprisingly Salcombe in the South Hams came top and Budleigh Salterton in East Devon was second on the list.

Budleigh is now also in the top coastal property boom hotspots nationally. Torquay is bottom of the list in Devon because of its higher number of lower priced urban properties.

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Exmouth is currently seeing prices shooting up fastest with a 35 per cent year on year rise. But Paignton and Torquay are also seeing prices rising fast.

GetAgent has taken a look at the current property market performance of 100 of the UK’s most popular coastal towns. Salcombe and Budleigh Salterton are both in the top 10 coastal hotspots commanding the highest house price premiums in the current market.

Devon seaside towns

GetAgent analysed current property values in each location and the house price premium when compared to the UK average, as well as the annual rate of growth to reveal the most and least affordable and the best performing.

At over £1m, Salcombe is now by far the most prestigious coastal hotspot in the country, coming in 277 per cent more expensive than the wider UK average. At £685,465, the cost of buying in Padstow is far more affordable, but will still see you pay a 146 per cent house price premium versus the national average.

Also in the top ten are Lymington (122%), Southwold (111%) and Fowey (105%) with average house prices more than double the UK average, and the average property value exceeding the half a million mark in Wadebridge, Rock and North Berwick. Perranporth and Budleigh Salterton complete the top 10 coastal hotspots commanding the highest house price premiums in the current market.

Nationally prices are rising fastest by the sea in North Berwick which ranks top in the last year, with property values up by a huge 38 per cent. In Exmouth, they’ve climbed 35 per cent, while homeowners in Stranraer, Porthcawl and Great Yarmouth have enjoyed a 31 per cent jump in the value of their home.

Founder and CEO of GetAgent.co.uk, Colby Short, commented: “As an island nation, coastal towns have always been incredibly popular as locals and holiday makers alike search for that perfect piece of the property market complete with a sea view. However, it’s fair to say that the pandemic has helped to turbocharge house prices pretty much the length and breadth of the British coastline.

“Not only are the most desirable towns across the South West continuing to command incredibly high market values at present, but there has been some huge rates of house price growth in the last year alone.

“ But while the pandemic may have helped drive this market performance to some extent, our obsession with being beside the sea is no short-term fad and so investing in a coastal property is always a smart move.”

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