Newbiggin-by-the-Sea announced as one of the cheapest places to buy a coastal home

Newbiggin-by-the-Sea was the only place in England to feature in the list of most affordable coastal locations, coming in as the sixth least expensive place overall according to Halifax.

The data revealed that the average price for a seaside home in Newbiggin-by-the-Sea was £117,663 in 2022.

The most pricey coastal town to buy a seaside home was found to be Salcombe in Devon, where the average price stands at a whopping £1.2m. Taking the number one spot at the other end of the list was Greenock in Inverclyde, which came in as the cheapest overall with an average house price of just £97,608.

The list was dominated by Scottish locations – nine of the 10 listed are over the border.

Kim Kinnaird, mortgages director at Halifax, said: “For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits. But this comes at a price in many locations and Britain’s most expensive seaside spot, Salcombe in Devon, will set buyers back over £1.2 million on average.

“Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations.

"While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play. Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore.”