Best Holiday Home Locations
Dreaming of a second home by the sea? You're not the only one. Thousands of us would love an out-of-city escape with an ocean vista where we can soak up the UK's rugged coastline and beautiful beaches.
But where is the best place to buy, whether you're looking for a summer holiday home or the best rental investment?
Thankfully, comparethemarket.com has done the hard work for us and analysed over 100 UK seaside towns on a number of factors to reveal the best coastal locations to buy property.
And the charming town of Southwold in Suffolk has come out on top. Sitting pretty on the Suffolk Heritage Coast, this town is unlike any other UK seaside resort; it has been long lauded by artists such as Turner, giving it a literary and quirky appeal, and is also bursting with photogenic streets, fascinating history and a thriving market atmosphere.
Southwold has the highest rental revenue with an annual return of £115,689. If you're looking to invest in a seaside home with the aim of opening a B&B or hotel then, again, Southwold is your best option, with a daily property rate of £334.
The price of a property may be a bit steep at an average of £540,511, but you could certainly reap the financial benefits in the long run.
Each town has been analysed by average rainfall, average temperature, beach quality score, average property price, annual property revenue, and daily property rental rate.
Looking to soak up some sun? Felixstowe, also in Suffolk, comes in at second place, and also has the highest summer temperatures, with an average July temp of 22.3ºC. Teignmouth, Folkestone and Bournemouth round up the top five.
The top 10 locations to buy a second home by the sea are:
1. Southwold
2. Felixstowe
3. Teignmouth
4. Folkestone
5. Bournemouth
6. Paignton
7. Southsea
8. Ramsgate
9. Southend-on-Sea
10. Saundersfoot
The research also highlighted destinations that came top in certain categories.
The lowest average property price is in Newbiggin-by-the-Sea at £93,749, a steal when compared to the average property price in Salcombe, £768,469, the most expensive property price.
Nobody likes a soggy beach, so Weymouth could be a great option if you're hoping to avoid the wellies and raincoats, as it had the lowest average rainfall at 35.9mm. The drier weather could mean you add alfresco dining options and balconies to your property, which could lead to higher financial rewards.
Mark Gordon, Director, Money and Mortgages, said: 'When it comes to getting a mortgage for your second home it's important to be clear with your lender what you are going to use the home for, whether that's buying to rent or for a holiday home. If you opt for a holiday home you can then apply for a second residential mortgage to help buy your new home.
'If you are looking to escape the city and find yourself a second home by the sea, it appears the south of the UK would be your best bet, offering the great summer weather and higher revenue. However, although you may have to compromise a little on the sunshine, seaside homes in the North can be considerably cheaper yet still give a good return!'
Check out this handy infographic below (click and zoom in) to see all the details about the full top 30 second home locations in the UK. There's an eclectic balance of high beach quality, warm, dry weather and high real estate value. The majority are situated in the South East and South West, with a few in the East and in Wales. Happy second home hunting!
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Source: https://www.housebeautiful.com/uk/lifestyle/property/a30252261/coastal-locations-buy-second-home-uk/
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