Move over, Sandbanks: Now Salcombe, Devon, is the UK's priciest seaside town

It has become a byword for high living on the waterfront, its multi-million-pound mansions rivalling the likes of those in Miami and Monte Carlo.

But Sandbanks is facing a challenge to its crown as one of Britain’s most expensive stretches of real estate from rather closer to home – 125 miles down the coast in Devon to be precise.

For the latest survey of property prices shows that Salcombe is the costliest place to buy by the sea in the UK.

The average house sale price in the south Devon resort town was £1.2million in 2022, while the figure for the Dorset haven stood at £952,692.

Both areas have benefited from a wider increase in property prices in coastal areas, a trend which has only been escalated by the rise in the numbers of families taking their holidays in Britain.

The latest survey of property prices shows that Salcombe (pictured) is the costliest place to buy by the sea in the UK

Pictured is an aerial view of Sandbanks and Poole Harbour. Sandbanks is famed for its high property prices and for its award-winning beach

Salcombe is currently the most expensive place to buy by the sea, followed by Sandbanks

But it is the exclusivity of Sandbanks – tucked away on a peninsula on Poole Harbour – and Salcombe – located on the Kingsbridge Estuary in Devon’s genteel South Hams district – which have turned them into millionaires’ playgrounds.

Both have their fair share of super-wealthy and famous residents and visitors past and present.

Sandbanks has boasted the likes of football manager Harry Redknapp, cricket legend Sir Geoffrey Boycott and rock star Liam Gallagher – while Salcombe has attracted the likes of Sir Michael Parkinson and Bake Off host Mary Berry.

Buying a home by the coast has proved to be a shrewd investment, according to the latest research by Halifax.

Activities in Salcombe include water sports such as sailing and surfing, and celebrity links to the area include Mary Berry

Things to do in Sandbanks include taking a ferry to Brownsea Island, and celebrity links include Harry Redknapp

Average sold prices in Salcombe in 2022 were up by 33 per cent on the year before and 123 per cent in a decade. Other coastal towns to see huge leaps include Great Yarmouth in Norfolk, up 53 per cent in a year to £611,816, and Aldeburgh in Suffolk, up by 47 per cent to £794,492.

Kim Kinnaird, mortgages director at Halifax, said: ‘For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits.

But this comes at a price – and Salcombe will set buyers back more than £1.2million on average.’

Salcombe is located on the Kingsbridge Estuary in Devon’s genteel South Hams district

Average sold prices in Salcombe in 2022 were up by 33 per cent on the year before and 123 per cent in a decade

Where are the priciest and cheapest places to buy in Britain?

Here are Britain’s most expensive locations to buy a seaside home out of the 209 locations analysed, according to Halifax, with the average house price (based on figures for the 12 months to December 2022):

1. Salcombe, Devon, South West, £1,244,025

2. Sandbanks, Dorset, South West, £952,692

3. Aldeburgh, Suffolk, East of England, £794,492

4. Padstow, Cornwall, South West, £790,847

5. Lymington, Hampshire, South East, £663,474

6. Yarmouth, Isle of Wight, South East, £611,816

7. Dartmouth, Devon, South West, £567,985

8. Kingsbridge, Devon, South West, £556,659

9. Wadebridge, Cornwall, South West, £548,669

10. Budleigh Salterton, Devon, South West, £537,681

Here are Britain’s least expensive locations to buy a seaside home out of the 209 locations analysed, according to Halifax, with the average house price (based on figures for the 12 months to December 2022):

1. Greenock, Inverclyde, Scotland, £97,608

2. Girvan, Ayrshire, Scotland, £105,410

3. Millport, Ayrshire, Scotland, £111,381

4. Invergordon, Ross and Cromarty, Scotland £114,962

5. Saltcoats, Ayrshire, Scotland, £116,414

6. Newbiggin-by-the-Sea, Northumberland, North East, £117,663

7. Stranraer, Dumfries and Galloway, Scotland, £117,884

8. Wick, Caithness, Scotland, £124,857

9. Thurso, Caithness, Scotland, £126,716

10. Campbeltown, Argyll and Bute, Scotland, £129,348

And here are the locations with the biggest house price increases between 2012 and 2022, according to Halifax, with the average house price in 2022 followed by the percentage increase:

1. Salcombe, Devon, South West, £1,244,025, 123%

2. Margate, Kent, South East, £305,191, 109%

3. Westgate-on-Sea, Kent, South East, £308,764, 100%

=4. Birchington, Kent, South East, £386,040, 98%

=4. Aldeburgh, Suffolk, East of England, £794,492, 98%

=6. Deal, Kent, South East, £391,325, 97%

=6. Ramsgate, Kent, South East, £307,737, 97%

=6. Yarmouth, Isle of Wight, South East, £611,816, 97%

9. Whitstable, Kent, South East, £483,692, 95%

=10. Padstow, Cornwall, South West, £790,847, 94%

=10. Burnham-On-Crouch, Essex, East of England, £418,609, 94%

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