Rain

Rain

max temp: 18°C

min temp: 13°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

Aldeburgh: Seaside haven among ‘most exclusive’ in country

08:15 24 May 2014

Visitors to Aldeburgh pose for photographs with the Scallop on the beach

Visitors to Aldeburgh pose for photographs with the Scallop on the beach

Archant

Already a haven for wealthy holiday makers, one of Suffolk’s premier resorts has cemented its place among the country’s most exclusive seaside towns.

Property prices in Aldeburgh have risen by a quarter in last five years, and almost doubled over the last decade, according to the Halifax.

It’s one of only two towns among the 10 most expensive not located in the south west corner of the country.

Property experts said they were not surprised by its high prices, with the market driven by wealthy buyers looking for idyllic holiday homes.

Peter Watson, of Suffolk estate agent Flick & Son, which has offices in Aldeburgh, Saxmundham, Southwold, Halesworth and Leiston, said: “There is always a very small housing stock compared to the number of people who want to buy.

“It’s always difficult to come up with an average, but the starting point for a cottage of the periphery of Aldeburgh is between £175,00 and £200,000.

“If you have the money to buy one of the more expensive properties, you can expect to pay as much as £2million.

“The seller’s expectations can often be slightly ahead of where the market is, but if the agent and owner are of a single mind, the property will walk out quite quickly.”

According to the Halifax, the most dramatic increases were in Scotland, with Fraserburgh, at the tip of Aberdeenshire, seeing a 141% rise in prices.

But, south of the border, Aldeburgh has seen the best performance, with average property values up 95% in a decade, to £446,576 in 2014.

Salcombe, in south Devon, led the way for average property values of £615,344, followed by Sandbanks, in Dorset, at £574,089.

The high prices in Aldeburgh are often paid by second homeowners and affluent visitors from London. Earlier in the week, this paper reported on the influence of Londoners on demand for “retail and leisure” offerings in towns like Southwold and Aldeburgh.

Mr Watson said: “The wider market is obviously being influenced by changes to mortgage lending, but not so much on the coast, where you’re generally dealing with second home owners.

“The viability of places like Aldeburgh relies on people having second homes and holiday homes.”

But, while Aldeburgh continues to dominate the top end of the market, not all seaside towns command high prices. Lowestoft is among the cheaper coastal towns in southern England in which to buy, with a three-bed terrace currently starting at about £75,000, compared to a similar property in Aldeburgh High Street on market at £499,000.

Sean Humfrey, of Jennie Jones estate agents, with offices in Aldeburgh, Southwold and Saxmundham, said: “One of the reasons for Aldeburgh’s staying power is actually its lack of available property. It’s a town with its back to the sea, so there is a limit to where new homes can be built.

“There will always be that balance of supply and demand, with more people wanting to move in than leave.”

1 comment

  • How many of these expensive properties are occupied during the off peak periods? A good hunting ground for the burglar alarm and security companies.

    Report this comment

    The original Victor Meldrew

    Sunday, May 25, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Stock image of the A12.

A woman has been seriously injured after a collision between a Ford Fiesta and a lorry on the A12 northbound today (June 29).

NUT supporters at a strike rally in Ipswich in 2014

Thousands of teachers are set to strike in Essex and Suffolk next week as part of a national row over pay and conditions.

South East Suffolk Magistrates' Court

A father who intervened in a dispute between his son and another male has been given 60 hours’ unpaid work for possessing of an axe.

Clacton MP Douglas Carswell

The UK Independence Party’s only MP was booed in parliament today when he stood up to ask the prime minister a question.

Pupils at Ormiston Sudbury Academy rehearse for their Shakespeare production.

Drama students from Sudbury are set to follow in the footsteps of some of the world’s best known actors when they perform at the home of the Bard in Stratford-upon-Avon.

Sir Trevor Nunn

Last week saw Brexit dominate headlines in the run up to the EU vote. Alongside this the Euros qualifying matches took centre stage with England yet to face defeat.

Prototype FCB2 Shannon class lifeboat in Poole Bay. Pic: Nathan Williams.

A new super-fast water-powered lifeboat could be taking to the seas off Suffolk within the next five years.

Most read

Great Days Out

cover

Click here to view
the Great Days Out
supplement

View

Most commented

HOT JOBS

Show Job Lists

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24