Posts with tag: property price

Where are the UK’s most expensive seaside locations?

Published On: May 30, 2017 at 10:01 am

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The most recent report from Halifax has uncovered the most expensive seaside locations for property in the UK.

In fact, the report indicates that house prices in UK seaside towns have risen by a quarter during the last ten years.

Seaside Rises

According to the lender, the average property price in Britain’s seaside towns increased by 25% during the last decade, from £181,060 in 2007 to £226,916 in 2017. This was the equivalent to an average rise of £382 per month.

There is however a significant north-south divide in property values in UK seaside locations. Nine out of ten of the most expensive locations are located on the south coast of England.

The most expensive location was Sandbanks in Poole, where an average property costs £664,051. Sandbanks was followed by Salcombe in South Devon and Aldeburgh in East Anglia, where values were found to be £617,743 and £526,689 respectively.

Away from the South, the most expensive locations were found to be the Scottish locations of North Berwick and St Andrews. Prices here are £314,435 and £300,319.

Scottish Increases

Scottish seaside locations have seen the most significant average house price growth during the last decade. The average price in Fraserburgh in Aberdeenshire nearly doubled, rising from £70,255 in 2006 to £136,889 last year.

This rise of 95% was followed by increases of 77% in Lerwick, 70% in Shoreham by the Sea and 67% in Aldeburgh.

Despite Scotland’s seaside locations seeing the fastest growth in the last ten years, the country is still home to nine of the ten least expensive regions.

Port Bannatyne on the Isle of Bute is the least expensive seaside town in the survey- commanding an average price of £71,550. This was followed by Newbiggin by the Sea in Northumberland – the least expensive seaside town in England- at £75,779.

Where are the UK's most expensive seaside locations?

Where are the UK’s most expensive seaside locations?

Strong Growth

Martin Ellis, housing economist at the Halifax, said: ‘Seaside towns are extremely popular places to live, offering sought-after views and desirable weather.  Being by the sea side does come at a price – with the marked increase in house prices reflecting the demand for rooms with a ‘sea’ view.’[1]

‘Over the past decade, house prices in the South East, especially coastal towns within commutable distance to London, have shown strong growth and have become Britain’s most expensive seaside towns,’ he continued.[1]

Concluding, Mr Ellis noted: ‘However, the strongest performing coastal towns in terms of growth have been in north of the border in Scotland, where property prices on the Aberdeenshire coastline have been helped by the oil industry more than the sunshine.’[1]

[1] http://www.propertyreporter.co.uk/property/where-is-britain%E2%80%99s-most-expensive-seaside-town.html

 

The Most Expensive University Cities in the World by Property Price

Published On: September 23, 2016 at 8:36 am

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Oxford may have knocked the California Institute of Technology off the top spot in the latest world university rankings, but where are the most expensive university cities in the world by property price?

The Most Expensive University Cities in the World by Property Price

The Most Expensive University Cities in the World by Property Price

Online estate agent eMoov.co.uk has reshuffled the top 100 list to find out which university cities are home to the most expensive property prices. It has taken the average property price per square metre across all 100 universities, finding that buying a home in a city boasting one of the world’s most prestigious universities will set you back around £5,245 per square metre. In the UK, the average price rises to £7,496.

Although it has traditionally fuelled the UK property market, London is not top of the list for property prices.

Hong Kong is home to the most expensive property price in the top 100 university rankings, at an average of £17,646 per square metre. Its top universities include the University of Hong Kong, Hong Kong University of Science and Technology and the Chinese University of Hong Kong.

At £16,331, London is the second most expensive city in the top 100, with Imperial College London, University College London, the London School of Economics and Political Science and King’s College London all making the list.

The University of Tokyo is the eighth most expensive, at £14,221 per square metre, with the National University of Singapore and Nanyang Technological University, also in Singapore, competing the top ten, at £13,664.

Of the other UK universities in the list, Oxford was 39th (£4,410), Cambridge was 45th (£4,061), Bristol was 56th (£3,502), Warwick 62nd (£3,000), Edinburgh 63rd (£2,879), Manchester 71st (£2,467), Durham 75th (£2,300) and Glasgow 78th (£1,995).

The ten cheapest university cities to buy a property included in the top 100 is dominated by the United States of America, with the University of Illinois at Urbana-Champaign coming in at just £783 per square metre.

The founder and CEO of eMoov, Russell Quirk, says: “The latest results are certainly testament to the quality of higher education available in the United Kingdom, with more than 10% of the entrants located here and for that, we should count ourselves very lucky. That said, the escalating cost of fees when attending university has seen it slip out of reach for many, and even the cheapest on the list, Durham, would cost well over £1,000 per square metre to purchase a property in the area.

“One silver lining that this research does highlight, however, is that at least London isn’t the most expensive where the average property price is concerned.”

Landlords, do you invest in student property? Perhaps you can use this list to find your next UK or overseas investment – it’s probably best to avoid Hong Kong!