Brits 'pay more' for houses near the sea

Posted: 01 Sep 2010 08:09:49 GMT

Brits are willing to fork out an extra £20,000 for a home near to the seaside, a new survey has indicated.

And according to the report by the Post Office, buying a house near to family members is the main attraction when it comes to purchasing a dwelling.

Of those quizzed, 24 per cent claimed they would be prepared to fork out an extra £13,005 for an abode situated close to loved ones.

Director of personal Lending at the Post Office Marcus Hughes said the perfect location is particularly important to those over the age of 35 who want to raise a family and settle down.

"[However], younger buyers appear more willing to compromise on the location or features of the property in their desire to get on the ladder," he added.

Last week, Helen Adams, managing director of FirstRung.com, observed lending conditions for those looking to get on to the property ladder for the first time are improving slightly.
 

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