How much would you pay for a sea view?

Many of us dream of living beside the seaside and this year we’ve seen plenty of demand for coastal homes.

So we’ve done some digging to find out if homes with a sea view really are more expensive than those without.

And we can reveal that the appeal of living on the coast has led to homes with a sea view commanding a bigger price premium than in 2019.

Our study shows that homes listed as having a highly coveted sea view have asking prices £86,060 higher on average than those without – a premium of 31% across Great Britain.

The national average asking price of homes with a sea view is £368,278, compared to £282,218 without.

The nationwide trend of coastal properties becoming more popular in 2020 has helped push up the price premium from 27% last year.

In 2019, the national average asking price of homes with a sea view was £319,645, compared to £252,686 without, equating to a premium of £66,959.

What’s the price premium in your region?

Regionally, the South West has the highest sea view price premium of 42%, followed by the North East with 33%, and Wales with 27%.

The South West is also where homes with a sea view are most expensive, with average asking prices of £415,296.

Cornwall is the county that has the most homes advertised with a sea view, whilst Brighton and Hove is the city with the most number of homes listed with a sea view.

What do the experts say?

Our resident property data expert Tim Bannister explained that life on the coast is proving to be hugely in demand this year.

He said: “We know from our recent Happy at Home report that, across Great Britain, people who live in coastal areas are most content with where they live. Whether it be weekend walks along the beach or catching a glimpse through the window of the shimmering water in the distance, people value that connection with the sea and enjoy life in the areas around it.

“We’ve seen demand for coastal homes increase this year and so it stands to reason that homes with a sea view command a substantial price premium.”   

What are estate agents seeing?

Fran Moynihan, head of Savills Waterfront, said: “Being an island nation, the sea is really part of our culture and as a result many aspire to buy by the sea for its beautiful scenery, unique lifestyle and plentiful leisure offerings. Ordinarily homes by the sea are popular, but this year we have seen the demand for a coastal lifestyle grow even more.

“With the type of property available along the coast varied, ranging from fisherman’s cottages to beachfront mansions and modern new-build developments, there really is something for everyone. Whether it’s for sailing, surfing, sea-fishing, wind-surfing, or even just a walk to take in the view, buyers are now more than ever eager to be close to the sea.”

Ian Lillicrap, director of Lillicrap Chilcott estate agent in Truro, added: “There’s something about the sea which has always captivated the imagination and, when it comes to house buying, the wallet too. Naturally, of course, there are premiums even within the exclusive bracket of homes with a sea view.

“For example, it depends on whether you’re buying a home with a glimpse of the sea, a direct panoramic sea view, or somewhere with direct sea frontage. Each has its price, and the prices can be high. You’ll pay a premium of at least 100% for the very best sea views and vastly greater than that for direct water frontage.”

Take a look at two coastal homes with wonderful sea views:

READ MORE: Inside the most viewed homes of 2020