Seaside homes to see prime prices

Wednesday, 28 March 2012 09:28

Country and sea side properties are forecast to be some of the most coveted real estate for 2012.

This comes after the government released a new National Planning Policy Framework which limits the development in environmentally significant areas of Britain.

The document released yesterday has a clear view to protection and states that “development should not curtail a continuous signed and managed route around the coast”.

Home finding service County Homesearch claims the main winner from the new document is those who already own real estate along the coast of the country.

The service has also forecast that this demand for coveted coastal and rural real estate is bound to see a price influx, especially for those looking for a holiday getaway house.

Already coastal homes gain an extra 20 to 30 per cent on their listing price according to Country Homesearch.

“With the ‘staycation’ the key holiday trend this year the returns of a holiday let by the sea are set for big increases in 2012, making the limited supply of coastal properties a potential gold mine,” County Homesearch director of Devon, David Hindom said.

It is timely too with the recent celebrity-packed release of the advertising campaign ‘Holidays at Home are Great’ encouraging Brits to holiday in the UK this summer.

The great price difference between coastal and residential properties can best be seen in the sales figures.

A Devon coast property has a £695,000 asking price for a hillside four-bed family home, while a nearby equivalent home lacking the coastal views is marketed at £415,000.

“As the government closes off coastline from development these views are protected, ensuring the price gap will only increase in future,” Carol Peett, director of County Homesearch West Wales said.
 

Wandsworth’s prime property prices see an influx

Wandsworth is the top spot for price growth in the prime property market according to new figures. The prime index from PrimeLocation.com has revealed a whopping 29.3 per cent increase in asking prices in the London borough in the past year.

Cornwall ‘is second home capital of the UK’

The coastal county of Cornwall boasts the highest number of second homes in Britain, with an average price of £247,432, according to the latest analysis from property search website PrimeLocation.com.

Country pads £27,000 more than urban properties

Buyers looking to set up home in a prime rural location can now expect to pay a premium of around £27,000 over urban properties. The latest annual Halifax Rural Housing Review found average prices for country pads have gone up more than town and city homes in the last decade.

UK house prices see biggest rise in London and Southeast

The latest property market figures from LSL Property Services have revealed the growing disparity in UK house prices. Areas such as London and the South East continue to outperform other regions of the country in terms of growth, according to the figures.

Prime country property prices drop

Prime country properties have experienced a price drop while super-prime properties of £5 million or more continue to gain pace. According to the Knight Frank’s prime property index prices dropped by 0.5 per cent in the first quarter of this year.

 

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