Questions are being raised if Brits are falling out of love with our seaside towns as house prices in ‘England’s best seaside town’ have plummeted by a steep 13k. Despite property prices in some of the most popular UK seaside towns increasing by 4.6% over the past year Perranporth has seen prices take a sharp nosedive.
Located on the north coast of Cornwall, Perranporth is renowned for its stunning dog-friendly beach, and rightly so, as the resort town boasts three miles of golden sand, surf shops and cafes. Those who visit this laid-back town are greeted with a holiday atmosphere with it providing the perfect break away to families and couples alike. With a 4.7 review rating on TripAdvisor Perranporth is definitely a hit with holidaymakers.
One visitor said: “Brilliant beach, one of the best in England. Good massive beach, it was fun to go to and surf on, with massive cool beaches The cliff faces are amazing to look at, the surfing area is brilliant, as well as there being a surf school, it is well lifeguarded by the RNLI, There is a pub as well on the beach. The dunes are nice and sandy too. Lovely day out.”
Another added: “This is one of our favourite beaches. The sea is blue, the sand is clean and the sea pool is a great extra! Lifeguards go above and beyond to keep everyone safe and are constantly in contact with the beach asking you to move to safe locations in the sea ! On a sunny day this beach is beautiful. Huge area with lots of bars and shops within walking distance. We visit every time we go and we’re never disappointed.”
Despite its obvious pulling power the area is in the middle of a property crisis with Perranporth seeing one of the biggest slumps in property prices.
Tim Simmons, Sales and Marketing director at Regency Living, says: “Some of the most popular coastal locations boasting the most over-inflated house prices have also been subject to some of the largest market corrections over the last year.”
Whilst the “picture is improving” Mr Simmons says homebuys are still opting for “far higher mortgage rates than they’ve become accustomed to in recent years and this is restricting the price they can afford to pay at all levels of the property market”.
He adds: “Affordability has always been a key issue across the nation’s most sought after coastal locations, as high demand to live beside the seaside, coupled with a finite level of stock, has driven property prices up considerably. In fact, it’s often the key factor we see amongst silver downsizers looking to move to such areas across the South West, South East and East of England.
“Whilst they want to enjoy a coastal lifestyle, they simply can’t afford to realise this retirement within the bricks and mortar market.”
Padstow, a picturesque fishing port set amidst stunning beaches in Cornwall, has seen house prices tumble by 10%.
Despite these house price reductions, other areas in Cornwall such as Fowey, Falmouth and Bude are thriving with increases of up to £23k on homes.