Crest of a wave

EVER fancied buying a bolthole by the sea or retiring to the coast? Well now could be a good time to do just that, as the property market remains in the doldrums, presenting the ideal chance to buy a seaside home while prices are artificially low.

- By Deborah Stone

BEACHES AND DREAM: 12a Crescent Place, Kempton, Brighton – with sea at the end of the road

It’s not that the housing market has crashed - prices rose by 0.5% in September - it’s more that it’s still recovering from the relatively recent spike in mortgage rates and now there are new concerns over possible property tax changes in this autumn’s Budget, on November 26.

Prices of some coastal properties have been further reduced by second home owners selling up because of double or even triple council tax coming into effect this April. They were also affected by the ripple effect of people returning to city living after moving out during the pandemic.

But the dream of living by the sea remains strong for many and the premium of a sea view - an extra 32% compared to average prices - is unlikely to disappear.