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Option Homes Ltd - News- Margate Tops Seaside Property League

Margate Tops Seaside Property League

Date Added 18/08/2016

Margate in Kent has seen the most house price growth over the last year out of all of the UK`s coastal locations, according to the Seaside Property League published by property website Zoopla. The average property price in Margate currently stands at £202,276 which is a 12.5% increase over the last twelve months.

Margate has always been an attractive tourist attraction for the likes of Londoners seeking a beach break away from the city without travelling abroad, but it seems like it has become more than just a nice place to visit. It`s not the only seaside resort town seeing substantial increases in house value though.

The southern eastern coast of Britain has seen significant house price value rises over the past year in general, with Margate topping a list that also includes south-eastern coastal locations such as Walton-on-the-Naze and Southend-on-Sea in Essex, Felixstowe in Suffolk, Ramsgate also in Kent, and Hastings on the south coast in Sussex.

A Decade of Funding Helping Margate Shine

Margate`s rise to the top of the Seaside Property League is probably due to the large amounts of funding the popular resort has received in recent years which has helped it regenerate and revitalise itself for more modern generations. Part of that regeneration has been the renovation and upgrading of the Dreamland Theme Park which features the UK`s oldest rollercoaster ride. The town also boasts the Turner Contemporary Gallery, which is one of Britain`s leading art galleries and is situated on the Margate seafront.

British Seaside Property on the Rise

Other British seaside towns featuring in the top ten of the Seaside Property League are Grange-over-Sands in Cumbria, which placed second with an average house price of £273,965 which is a 10.58% rise over the course of the last twelve months. Wales also has two entries on the list, with fifth placed Porthcawl seeing a 7.61% rise to an average house price of £237,939, while Llandudno in sixth place saw a similar percentage rise of 7.56% though for an average price of only £196,074 due to the lower value of the properties in that area.

The most expensive average price in the top ten belongs to Hayling Island in Hampshire which features in ninth place with a rise of 6.83% taking the average house price there up to £314,746.

A spokesperson for Zoopla, Lawrence Hall, said:

`If you`re considering investing in a beach front property, you should consider those resorts receiving government investment. It does have a positive impact on property values.`
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