Online House Hunter: Shore things
THE monthly Halifax Hometrack report sparked a flurry of good news headlines for seaside towns as it singled out the likes of Wadebridge in Cornwall and Maryport in Cumbria for huge jumps in house prices.
Wadebridge – with a population of just over 6,000 – has, said Hometrack, seen the average house price rise by 270 per cent over the last ten years from £100,000 to £370,902. And Maryport in Cumbria saw a 192 per cent increase.
But before you rush out to invest in a two-bedroom house in Maryport can we just ask some questions about these bank holiday headlines. For a start, is there any part of the country which has not seen a house price rise over the last ten years? I doubt it. And with a population of just over 6,000 in Wadebridge how many houses would you have to sell above the market rate to achieve such a big boost? Our online property search engine only shows one house for sale at the moment (a two-bedroom terrace for sale at £169,000).
And while a view of house prices over ten years is perfectly valid, it might also be worth comparing prices since the boom of 2006/7 as I suspect that most homes will show a rather dramatic fall since those hey days.
There’s no doubting the beauty of such coastal resorts (I live in one!) and the delight of being able to walk out of your door and take a pleasant stroll by the sea. But take your rose-tinted sunglasses off before accepting too many frothy headlines.
- Independent Online Property Search
- High tide for seaside properties – Independent article
- Independent House & Homes section
- Halifax Hometrack
- Land Registry House Price Index
- DirectGov: Property value and valuations
- BBC: House Price Surveys explained
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