The beautiful seaside town of Rothesay has been ranked as the cheapest place to purchase a coastal home in the UK, with average house prices at an incredible £101,477
The world of work has changed enormously in recent years. With many people now able to do their job from home, or simply fed up with the nine-to-five grind, life on a windswept and beautiful island has never seemed so appealing.
Yet, the dream of owning a home has never seemed so distant for many, with house prices in most of the country far outstripping people’s ability to save for a deposit and afford a place to live. But, if you are willing to up sticks and move to a picturesque town off the coast of Scotland, this dream might not be so distant.
Rothesay, located on the Isle of Bute, has been named as the UK’s cheapest seaside town to buy a house, with the average property price standing at just £101,477, according to an analysis by Lloyds Bank. Though remote, it is less than two hours to Glasgow by car as, thankfully, there is a bridge.
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Known for its once-thriving seaside resort regularly frequented by Glaswegians, Rothesay is the main town on the Isle of Bute and can be reached via ferry. The tranquil town, boasting attractions like the Ardencraig Gardens and Victorian Toilets, is ideal for those seeking peaceful surroundings and a traditional locale.
Other nearly as affordable seaside towns listed by Lloyds Bank include Greenock in Inverclyde, with an average home cost of £107,111, and Girvan in South Ayrshire, where houses are priced at £107,349 on average. On the flip side, the most expensive seaside properties are found in the south of England, with Salcombe in Devon topping the list with an average price of a whopping £970,657.
Sandbanks in Dorset follows closely with average prices at £957,739, while Padstow in Cornwall, known for celebrity chef Rick Stein’s numerous businesses, ranks third with prices averaging £701,979. Lyme Regis in Dorset and St Ives in Cornwall also feature in the top 10, with average house prices exceeding £500,000.
Throughout the UK, you can expect to pay an average of £293,000 for a coastal property, reports the Express.
Amanda Bryden, the head of mortgages at Lloyds Bank, commented: “Sea views, sandy beaches, brisk morning dips it’s easy to see why coastal living is so desirable.”
She added: “Our data shows the most sought-after coastal locations in the country can attract average price tags of close to a million pounds with in-demand properties often going for much more.
“These pricier areas can result in a lack of affordable homes for first-time buyers, a problem often exacerbated by high levels of second home ownership, meaning that many who have grown up in the area may find themselves priced out of owning their own home locally.”
