Aldeburgh named in top three coastal resorts for highest property prices in Halifax Seaside Town Review 2015
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One of Suffolk’s most famous resorts was the third best-performing coastal town for house prices in Britain last year, a survey has shown.
Average property values in Aldeburgh were £413,393 in the 12 months to February, according to Halifax Estate Agents’ annual Seaside Town Review.
The town retained its position of third place, behind Sandbanks in Dorset (£614,726) and Salcombe in Devon (£672,874), despite the figure falling by 7% from £446,576 in the previous year.
However, over a decade, Aldeburgh’s average house prices have risen by 21%, from £341,657 in 2005.
Last night, experts said growing numbers of people from London and the Home Counties were flocking the town to enjoy its “magical feeling” and cultural .
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Aldeburgh is seen as the artistic hub of Suffolk’s Heritage Coast and draws large crowds for its annual classical Aldeburgh Festival founded by Benjamin Britten in 1948.
The town is also renowned for having some of the best fish and chip shops in the country, a thriving art-house cinema and shingle beaches featuring Martello towers and Maggi Hambling’s controversial metal Scallop sculpture.
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Harry Wass, valuer for estate agents Flick & Son, based in the High Street, Aldeburgh, said they sold around 20% more properties last year compared to 2013.
He said: ““Aldeburgh is a very popular seaside resort to both retire to and for second homes and investments. It is very popular for its long pebble beach, the golf club is in the top hundred in the UK and it has a very popular yacht club and along with other festivals such as the summer carnival and its connection with Benjamin Britten and Snape Maltings.
“We are finding a large draw from the Home Counties and London. I suspect that a lot of Londoners cannot afford to buy in London anymore so they are moving to the Home Counties and we are finding that house price rises in those areas are considerably higher than in Suffolk.
“I believe the market would not be able to sustain very high hikes in prices, but there is certainly more confidence in the market.”
Two properties worth more than £1 million are currently on the market in Aldeburgh – including a six-bedroom property in Crag Path valued at £1,795,000.
But a two-bedroom detached bungalow in The Brambles can be purchased for £275,000.
Mr Hass admitted very few first-time buyers climb the property ladder in the town, but said: “It’s a struggle for them all over the UK, let alone in Aldeburgh, but outlying villages and small market towns like Saxmundham and Leiston act as very good hubs for first-time buyers.”
Naomi Tarry, director of Best Estates, an estate agent in the town, and director of holiday cottage lets business Best of Suffolk, said Aldeburgh has a “magical mix of atmosphere, facilities and a beautiful, natural landscape”.
Mrs Tarry, who lives in the town, said: “Aldeburgh has a magical feeling about it. When people come the first time, they tend to keep coming back.
“We are seeing a real mix of people moving to the area. Quite often, they are retiring after perhaps holidaying all their life in Aldeburgh
“We have the sea, the beautiful beach and many independent, fabulous shops on the high street and great restaurants and pubs.
“Holiday and letting guests bring millions of pounds into Aldeburgh every year and tourism is a very important part of Suffolk’s economy. It means the high street can sustain the many shops, restaurants and pubs.”