Rightmove ranks Isle of Wight's Ryde seaside price hotspot

This demand has often outstripped supply, which has contributed to rising asking prices.

In fact, across all seaside locations in Great Britain, asking prices are up 13.9% on average compared to last year, outpacing the national average of 9.9%.

But which towns are seeing the biggest leap in prices? New research from the UK’s biggest property website Rightmove has revealed the top ten.

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Seaside locations with biggest house price growth

Demand for coastal properties has been outstripping supply, according to Rightmove. Picture: PA

Rightmove has listed Canford Cliffs in Poole, Dorset, as the top seaside price hotspot, with asking prices jumping 24% compared to last year, the most of any coastal area.

Brixham in Devon is the second seaside price hotspot, with asking prices rising 23%, while Abergele in Conwy, Wales is third (+22%).

Coming in at number ten is Isle of Wight’s Ryde with the average house price now standing at £292,003 - that’s up 18% year-on-year.

Rightmove’s director of property science, Tim Bannister, said: “We’re in a unique position to be able to see activity across the whole of the market, which gives us a strong indication of how buyers are behaving in real time.

“We know that demand, which we measure by enquiries to estate agents from prospective buyers on Rightmove, is often a lead indicator of price, and right at the start of the pandemic when the market re-opened, we saw a huge surge in demand for these coastal areas as people wanted a sea view or more space near the coast.

“There have been large periods where demand has greatly outstripped supply over the last couple of years which has contributed to the significant rise in asking prices we’re seeing today.

“Encouragingly, with new stock coming to market we are starting to see signs of a better balance of supply and demand in seaside areas than we were a year ago, and we’d expect this to filter through to the market and potentially moderate the pace of price rises in the coming months.”

Seaside price hotspots

Rightmove's seaside property hotspot are the locations which have seen the greatest year-on-year house price increases. Picture: PA

The list below shows the top 10 seaside price hotspots including the average asking price along with the average asking price growth year-on-year.

1. Canford Cliffs, Poole, Dorset - £1,223,180 up 24%

2. Brixham, Devon - £337,129 up 23%

3. Abergele, Conwy (County of) - £234,613 up 22%

4. Skegness, Lincolnshire - £201,976 up 22%

5. Ilfracombe, Devon - £266,353 up 22%

6. Gorleston-on-Sea, Norfolk - £224,066 up 21%

7. Burnham-on-Sea, Somerset - £298,938 up 20%

8. Paignton, Devon - £286,188 up 20%

9. Dawlish, Devon - £296,286 up 19%

10. Ryde, Isle Of Wight - £292,003 up 18%