Rise in average property prices in Sidmouth is among highest in UK
PUBLISHED: 06:55 24 July 2017 | UPDATED: 16:56 24 July 2017
Sidmouth is one of the most up and coming seaside towns and property hotspots in the country, according to new research.
The rise in the cost of homes in the town was the third highest across the UK, according to Zoopla.
The property website has analysed the average property price across seaside locations over the past 12 months and found the strongest and weakest performing coastal towns for 2017.
It showed that the average property value in Sidmouth had risen by 7.51 per cent with the average cost of a home being £388,331.
The town closely followed behind Walton-on-the-Naze, in Essex, which saw a 9.43 per cent rise and Broadstairs, in Kent, which saw an increase of 10.45 per cent.
Although, this is nowhere near the average cost of a home in Salcombe, which continues to be the priciest seaside town, with the average property there costing £635,435.
Mike Dibble, the director of Bradleys Estate Agents, said: “Sidmouth is one of the most desired locations in the West Country.
“It is good news for people selling up and moving to a cheaper area and bad news for people trying to get on the property ladder and those returning from abroad.
“7.51 per cent is quite a high property inflation rate but if people are buying and selling in the same market they should not be too badly affected.
“It is also important to remember this is an average and not relevant for an enormous number of people. A lot of properties will have gone up more than that in the past 12 months, like quality detached houses and bungalows for example, while properties like thatched cottages and retirement homes won’t have gone up.”
A Chamber of Commerce spokesman said: “In truth, these fluctuations in prices are likely to be just statistical anomalies.
“It is unlikely that they reflect any significant long-term trend in local house prices.
“At the end of the day, a town with high house prices is likely to be a town with good services and attractive environs; so high house prices in Sidmouth reflect the fact that it is a nice town and people want to live here.”