House prices growth 'good in many seaside towns'

Between 2002 and 2007, house prices in seaside towns increased by 78 per cent, according to new research.

Halifax analysed data from the Land Registry to determine this figure, which is higher than the 67 per cent growth seen in England and Wales as a whole.

The findings also reveal that during this period, a total of 18 coastal towns saw house prices double in value.

Managing director of Halifax Estate Agents Gordon Edwards said that over the years many towns by the sea "trade at a significant premium".

Although acknowledging that these areas "are not immune to wider market developments", Mr Edwards predicted that coastal properties will continue to command higher prices, "as people will always like to live by the seaside".

Recently, Nationwide uncovered another trend in the current property market, revealing that the most popular property type among first-time buyers is a terraced house.


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