Coastal property sector 'has stable prices'

By Jonathan Dawes, Thu 19 Aug 2010 - Published in Mortgages

Prices in the UK's coastal property market have not been affected too badly by the economic downturn, an expert has suggested.

Peter Halliday, managing director of Waterside Properties, claimed that the market has been relatively insulated from the turbulence of the past two years, with prices managing to emerge relatively unscathed.

He noted that the coastal property market is subject to the same forces of supply and demand as other sectors, but suggested homes have avoided any substantial falls in price but have not risen either.

However, the expert added: "Properties by the coast do generally attract higher prices because they are by the coast and in a nice place to live."

Mr Halliday also claimed that demand in the coastal property sector remains strong, as many people consider moving to these homes for lifestyle reasons rather than to make an investment.

The recent Halifax Seaside Town Quality of Life report said that Yorkshire's Bridlington, Withernsea and Hornsea are some of the UK's coastal towns with the best value and quality of life.

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