Partly Cloudy

Partly Cloudy

max temp: 16°C

min temp: 12°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

Motorists experienced delays on the A14 (file pic).

Traffic on the A14 near Ipswich has returned to normal following a two-vehicle crash earlier this morning.

Suffolk County Council headquarters; Endeavour House, Ipswich.

How Suffolk schools are rated by local education chiefs is being kept secret – because they say releasing the information is “not in the public interest”.

David Lloyd Leisure Ltd, Ipswich

A court has heard how a noxious substance released into a swimming pool happened while staff were trying to restart its pumps.

Some of the floral tributes left by the community

A Suffolk businessman who murdered his estranged wife with an axe before jumping to his death from a town centre car park was treated at a mental health unit the week before the tragedy, an inquest has heard.

Kitchen fire is extinguished in Lowestoft.

Fire crews from Lowestoft have extinguished a kitchen blaze.

Arrests made over shop ram raid.

Two men have been arrested in connection with a ram raid at a convenience store in Ipswich last Thursday.

Two men arrested over filling station burglary in Ipswich.

Two men have been arrested in connection with the burglary of a petrol station on the Chantry estate in Ipswich.

A 24-year-old man has been arrested in connection with the stabbing of two people in Leiston earleir this year.

A fifth person has been arrested in connection with the stabbing of a man and a teenage boy in Leiston in April.

Police are investigating the incident

Police are investigating a burglary at a garden centre in Sturmer, Essex.

Robbie Warner

A day held in memory of a 19-year-old from Suffolk who died while at university has raised more than £5,000.

Most read

Most commented

Topic pages