Seaside towns with the biggest house prices rises revealed: Margate tops the list with 12% rise in a year following its multi-million pound regeneration

  • Values in Margate have climbed an impressive 12.5 per cent in the past year to an average of £202,276
  • The town on the east coast has undergone a multi-million pound regeneration in recent years and is now dubbed 'Shoreditch-on-Sea'
  • It has seen the opening of a new Turner gallery and the Dreamland theme park

With its recent regeneration and new tourist attractions, Margate has topped the list of seaside towns with the highest house price rises, a new study suggests.   

Values in the east coast town in Kent have climbed an impressive 12.5 per cent in the past year to an average of £202,276, according to new research.

The increases follow a regeneration of the town, which has seen the opening of new Turner gallery, the Dreamland theme park and the renovation of many of its Victoria and Georgian seafront properties.

The average price of a home in Margate in Kent has risen more than 12% is £202,276

The average price of a home in Margate in Kent has risen more than 12% is £202,276

Margate's Turner Contemporary Gallery (pictured far left) has helped to attract tourists back to the area

Margate's Turner Contemporary Gallery (pictured far left) has helped to attract tourists back to the area

TOP 10 SEASIDE PROPERTY TOWNS BY AVERAGE HOUSE PRICE INCREASES
SEASIDE TOWN CHANGE IN PROPERTY VALUE SINCE JULY 2015 (%)
Margate, Kent 12.54
Grange-over-Sands, Cumbria 10.58
Walton on the Naze, Essex 10.04
Felixstowe, Suffolk 9.59
Porthcawl, Wales 7.61
Llandudno, Wales 7.56
Ramsgate, Kent 7.17
Hastings, Sussex 6.95
Hayling Island, Hampshire 6.83
Southend-on-Sea, Essex 6.81
Source: Zoopla  

The thriving town has seen such a change in fortunes and become so 'hipster' that it is has been dubbed Shoreditch-on-Sea.

It is in sharp contrast to less than a decade ago when a Thanet government study in 2007 highlighted how the town's cheap accommodation had been used to home 'high numbers' of 'vulnerable adults, ex-offenders and asylum seekers'.

And only five years ago, unemployment stood at around 20 per cent and it had one of the highest number of people on benefits in the country.

However, millions of pounds of regeneration money has since been pumped into the seaside town and tourism is booming.

It is not the only seaside town on the south coast that has seen significant property hikes Since July 2015, the research by property website Zoopla found. Seven of the top 10 seaside climbers are located along this shoreline.

Joining Margate in the seaside property league's top 10 list of hotspots are Walton-on-the-Naze, Felixstowe, Ramsgate, Hastings, Hayling Island, near Portsmouth and Southend-on-Sea.

With new cafes, trendy bars, and art galleries opening up every few weeks Margate is trying to regain it's popularity as a holiday spot

With new cafes, trendy bars, and art galleries opening up every few weeks Margate is trying to regain it's popularity as a holiday spot

BOTTOM 10 SEASIDE PROPERTY TOWNS BY HOUSE PRICE CHANGES
SEASIDE TOWN CHANGE IN PROPERTY VALUE SINCE JULY 2015 (%)
Cleethorpes, Lincolnshire -5.47
Cruden Bay, Aberdeen -4.63
Collieston , Aberdeen -4.63
Saltburn-by-the-sea, North Yorkshire -4.33
Aberystwyth, Wales -3.48
Rhyl, Wales -3.37
Ilfracombe, Devon -2.21
Woolacombe, Devon -2.21
Looe, Cornwall -2.19
Perranporth, Cornwall -1.98

Porthcawl on the South Wales coast, a popular area with surfers that also known for an annual Christmas Day swim, is fifth on the list.

The south west coastline is home to many of the weakest performing house prices among seaside towns.

These include two of Devon's popular holiday hotspots, Ilfracombe and Woolacombe as well as Looe and Perranporth in Cornwall.

House prices in the seaside town of Hastings have grown by 6.95% in the past year

House prices in the seaside town of Hastings have grown by 6.95% in the past year

THE MOST EXPENSIVE SEASIDE TOWNS 
SEASIDE TOWN JULY 2016 AVG PROPERTY VALUE
Salcombe, Devon £598,230
Aldeburgh, Suffolk £490,182
Southwold, Suffolk £434,618
Lyme Regis, Dorset £402,634
Brighton, Sussex £368,782
North Berwick, Scotland £364,306
Port Isaac, Cornwall £356,962
Sidmouth, Devon £352,896
Woolacombe, Devon £347,507
Swanage, Dorset £330,901
Source: Zoopla  
THE CHEAPEST SEASIDE TOWNS
SEASIDE TOWN JULY 2016 AVG PROPERTY VALUE
Saltcoats, Scotland £109,109
Blackpool, Lancashire £114,443
Blyth, Northumberland £120,775
Cleethorpes, Lincolnshire £126,331
Kilchattan Bay, Scotland £130,846
Rhyl, Wales £134,577
Morecambe, Lancashire £136,063 
Girvan, Scotland £138,094
Saltburn-by-the-sea, Yorkshire £140,396
Fairbourne, Wales £141,576
Source: Zoopla  

The most expensive seaside properties can be found in Salcombe in Devon, where average values stand at £598,230.

Cheaper seaside resorts can be found in Scotland and Wales, including Saltcoats in Scotland which has the lowest average values of £109,109.Rhyl in North Wales also has relatively cheap average values at £134,577.

Lawrence Hall, a spokesman for Zoopla, said: 'The big increase in the value of an average home in Margate follows large amounts of regeneration funding that the town has received in the past decade - with attractions such as the Turner Contemporary gallery and the Dreamland theme park.

'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.'

 

Properties for sale in Margate 

1.  Two bedroom terrace house for £155,000

The two bedroom property comes with parking on the driveway and would be an ideal starter home 

The two bedroom property comes with parking on the driveway and would be an ideal starter home 

The kitchen comes with a integrated dishwater, washing machine and an electric oven

The kitchen comes with a integrated dishwater, washing machine and an electric oven

The conservatory leads to a fenced garden and wide open spaces that can be viewed from the upstairs bedrooms

The conservatory leads to a fenced garden and wide open spaces that can be viewed from the upstairs bedrooms

 

2.  Two bedroom flat for £115,000

The flat is on the top floor of a landmark building in the south east coastal town of Margate

The flat is on the top floor of a landmark building in the south east coastal town of Margate

The spacious flat is extremely light and boasts stunning panoramic views across Margate and the sea

The spacious flat is extremely light and boasts stunning panoramic views across Margate and the sea

Wake up to the sound of the sea as even the bedrooms have stunning views of the coast

Wake up to the sound of the sea as even the bedrooms have stunning views of the coast

 

3. Six bedroom terrace house for £365,995

There are six bedrooms to choose from in this grand terrace property

There are six bedrooms to choose from in this grand terrace property

The spacious and modern kitchen opens out onto the decked area and garden outside

The spacious and modern kitchen opens out onto the decked area and garden outside

As well as the kitchen there is a combined lounge and dinning room for entertaining

As well as the kitchen there is a combined lounge and dinning room for entertaining

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