Southwold named as one of UK’s most expensive seaside towns to buy a home
- Credit: Sarah Lucy Brown
Southwold has been named as one of the most expensive coastal resorts to relocate to in the country - with house prices more than double the national average.
Average house prices in the Suffolk seaside town have been calculated at £487,996, according to research by housing specialist Compare My Move.
That is more than double the average UK house price, which is around £235,000.
Southwold has been ranked as the fifth most expensive coastal resort based on average property price, with no other Suffolk towns featuring in the top 10.
Sandbanks in Dorset topped the list - with the average house value in the south coast resort at an eye-watering £1,240,294.
The Compare My Move research ranked over 150 coastal locations on factors such as average house price, beach ratings, median full-time salary, average temperature and precipitation, and quality of beach water to identify the best places to live by the sea.
Southwold is popular with affluent Londoners, with more than half of the properties in the town believed to be owned as second homes.
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Visitors flock to the resort all year-round to make use of its sandy beaches, pier and plethora of independently-owned stores.
Southwold Town Council is also working on plans to introduce a tourist trail, containing series of informative signs and historic sculptures, in a bid to encourage more visitors to the resort.
Tourism is worth an estimated £71million to Southwold’s economy and nearly 80% of the jobs in the town are related to the industry, according to a 2015 study.
Hannah Wright, town development manager for Southwold, described the resort as a “quintessentially unique British town”. She added: “I know there’s definitely been movement in Southwold in terms of people buying properties.
“Southwold has always been an historically expensive place to buy - it’s traditionally been a sought-after location.
“The town is situated on the edge of the area of outstanding natural beauty, so when you add those tags it increases the value of properties.
“Southwold has a beautiful beach, a working harbour and a bridge to Walberswick - in itself, it’s an island. You’re almost in a bubble.”
Dave Sayce, managing director at Compare My Move, said: “Increasing numbers of people are looking to ditch their lives in the city and relocate, especially in light of the coronavirus pandemic, with many choosing to move closer to the coast in search of a more laidback way of life by the sea.”