West coast more profitable than the east
Posted: 30 Aug 2006 14:10:19 GMT
New research has showed that the west coast of Britain has seen higher price increases than the east coast.
The Halifax study reveals that 14 out of the top 20 seaside towns for house price growth came from the west coast.
Analysing house prices from March 2001 to March 2006 the researchers showed that Seaham, on the east cost, had the highest house price rise over the period at 181 per cent.
However, the next four locations to make up the top five all came from the west coast and peaked well above 150 per cent.
Pwllheli showed growth of 176 per cent, Rock 172 per cent, Caernarfan 166 per cent and Maryport 155 per cent. Wales was particularly prominent with nine out of the top 20 towns situated along the Welsh coast.
Colin Kemp, managing director of Halifax Estate Agents, said: "Seaside towns on the west coast have generally seen the largest house price increases over the past five years. Welsh seaside towns have recorded the strongest gains.
"Overall, coastal towns still offer value for home buyers. The majority of the towns we surveyed still have a lower house price than the average in their region."
The study also revealed that areas with high average prices, such as the Dorset coast, had the lowest growth. Sandbanks has an average price of £508,337 but showed an increase of only 51 per cent over the five year period.