Withernsea most affordable seaside town in England & Wales

Withernsea is the most affordable seaside town in England and Wales, according to the Halifax Seaside Town Review. House prices in the East Riding of Yorkshire resort are, on average, 3.0 times local annual gross average earnings.  All ten most affordable seaside towns are in northern England.

Sandbanks in Dorset is the least affordable seaside town with an average house price to earnings ratio of 18.9. The ten least affordable seaside towns are all in the South West.

Sandbanks is also the most expensive seaside town with an average house price of £544,951 in 2009.

Withernsea is the least expensive seaside town with an average price of £91,360.

Padstow in Cornwall recorded the largest increase in house prices between 2001 and 2009.  The average house price in this South West seaside town increased by 211%, from £135,677 to £421,954.

House prices at least doubled between 2001 and 2009 in almost half of the seaside towns surveyed. The average house price in all seaside towns increased by 92%, outpacing the 81% rise in house prices across England and Wales as a whole.

Prices fell in all but four seaside towns between 2007 and 2009 overall, but a number of towns recorded a recovery in property values in 2009 with Colwyn Bay in north Wales experiencing the largest rise between 2008 and 2009 (10%).

Martin Ellis, housing economist at Halifax, commented: "Living on the coast offers many attractions, including a typically high quality of life and attractive surroundings. As a result, property in seaside towns is often very popular with homebuyers. Whilst property in seaside towns can be more expensive than elsewhere, exceptional value for many can still be found for those searching to realise their dream of living near the sea."