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Wednesday 25 August 2010

Milford on Sea: UK’s Second Most Expensive Seaside Town

New research by Halifax, Britain’s biggest mortgage lender, finds a strong correlation between waterfront views and buoyant property prices. The study found that Milford on Sea is the UK’s second most expensive seaside town for property.

Despite the trend being downward elsewhere. Estate agents Knight Frank suggest that a waterfront view adds more than 30 per cent to house prices on average. Explanations include demand from boat owners, second home owners and people seeking clean air and a good quality of life.

Nine of the ten most highly priced seaside towns also feature among seaside towns with the highest quality of life. Sandbanks in Dorset is the most expensive seaside town with an average house price of £545,000 followed by Milford on Sea (£335,000) and Lyme Regis in Dorset (£308,000).

Five seaside towns in southern England also provide good value for money with relatively low property prices. These are Dover, Newhaven, Folkestone, Burnham on Sea and Weston Super Mare. Halifax claim that residents of Bexhill-on-Sea in East Sussex have the highest quality of life among Britain’s seaside towns followed by Burnham-on-Crouch in Essex and Christchurch in Dorset. All three towns have higher than average weekly earnings and an above average employment rate. Over nine out of ten adults report themselves as having good health and residents have an average life expectancy of around 80. They also have four more hours of sunshine per week than the average for seaside towns.

Oh, I do love to be beside the seaside!

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