Latest Property News around Barry, Cardiff
British seaside properties
still trading at a premium, but No mention of Barry!!!
Residential Landlord reports :
The old tune ‘Oh I do like to be beside the seaside’ still seems to hold true today according to the seventh Halifax and Seaside Town Review.
The review, which tracks house price movements in 117 seaside towns in Great Britain found that property prices in coastal areas tend to trade at a premium.
Girvan in Ayrshire, Scotland - has been the best performing seaside town in Great Britain over the past year with the average house price rising by 41% to £131,512 at March 2007.
More than one third of seaside towns (41 out of 117) saw an increase of at least 10% in their average house price in the past year.
In England, the best performing seaside town was St Mawes in Cornwall, with a 26% price rise to £306,212. In Wales, the best performer was Colwyn Bay, up 12% to £174,758.
The most expensive seaside town is Sandbanks in Dorset with an average price of £488,761. Nine of the 10 most expensive seaside towns are in the South West. Padstow in Cornwall (£334,385) and Milford on Sea in Hampshire (£326,277) are the next most expensive seaside towns after Sandbanks.
The average seaside town trades at a premium of £5,298 (3%) to the average house price in their county. The premium is largest in Sandbanks in Dorset (106%), the Mumbles in Wales (92%) and St Andrews in Fife (86%). 24 seaside towns have a premium to the average house price in their county of at least 20%.
There are 16 seaside towns which trade at a discount of at least 20% to the average house price in their county. The discount is largest in Margate (30%) and Dover (29%) in Kent. Seven of the 16 towns trading at a 20% discount are located in the South East of England. However, there also towns with a discount of at least 20% in the North, Yorkshire & the Humber and East Anglia.
Seaside towns in Sussex accounted for six of the 10 smallest house price increases over the three years to March 2007. These towns include Newhaven (13%), Littlehampton (13%), Eastbourne (14%) and Peacehaven (16%).
Even though we can't find a mention of Barry anywhere in the report we still think that house prices within the locality should be increasing around the national average.
But don't hold us to it!!!
