Overcast

Overcast

max temp: 9°C

min temp: 3°C

ESTD 1874 Search

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.

shares

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.”

shares

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

Mark Bee and his deputy Lisa Chambers at Endeavour House in Ipswich after they saw off last year's challenge to their leadership.

Conservative councillor Mark Bee is to step down as leader of Suffolk County Council after four years in the role.

Voting isn't the only form of political engagement

The ideological machine that is meant to serve us has gone wrong and is tyrannising us, but that doesn’t mean we should boycott the ballot box

Suffolk has an ageing population - but can we cope?

Dramatic increases in the average age of people in Suffolk have been highlighted in a report which reveals that in some areas nearly one in 10 are expected to be aged 85 or over in the next two decades.

Damage to overhead wires between Diss and Stowmarket - photo courtesy of Greater Anglia

Rail users face an afternoon and evening of severe delays on routes between Norwich and London, after high winds caused damage to overhead power lines between Stowmarket and Diss.

There is the potential for sweeping changes at Braintree District Council come election day – though in practice that is unlikely to happen.

Klaudia Sokolowska

Police are searching for a 14-year-old girl in Felixstowe who has gone missing for the third time in three months.

Hunting for eggs

Will you be feeding the newborn lambs at The Museum of East Anglian Life, trying your hand at archery at Ickworth House or hunting eggs at The Middy’s Steam up this weekend?

Princess Anne meets Livability Treetops Service Manager Janet Bilton during her visit to Livability Treetops in Colchester on Tuesday.

The Princess Royal flew in to Colchester today as part of her work supporting a disability charity.

Firefighters were called to the house fire

Firefighters were called to a house fire in Stowmarket this afternoon.

Fears over future of probation service in Suffolk and elsewhere in East Anglia

Criminals jailed for up to a year could be supervised over the phone and use kiosks to report to the probation service electronically once they are released back in the community.

Most read

Most commented

Topic pages