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Sea views: Kent buyers prepared to pay more than £100,000 extra for home with sight of water

By KentOnline reporter

Homeowners are prepared to pay more than £100,000 above the asking price for a property with a sea view in parts of Kent, according to a study.

In some cases, the premiums paid by buyers added nearly two-fifths to the value of a home in the county, showed research by Rightmove.

Buyers paid an average of £307,490 for homes in Folkestone because their sight of the English Channel, a 38% premium on the average asking price of £222,986 in the area.

Homes with sea views in Broadstairs sell for an average of 26% more than the typical sale price for the town
Homes with sea views in Broadstairs sell for an average of 26% more than the typical sale price for the town

It is the third largest increase in what buyers are prepared to pay nationally.

Three of the top five most expensive towns nationally for properties with sea views are in Kent, according to the analysis of homes worth less than £1 million.

Broadstairs was behind only Hove in East Sussex for what people were prepared to pay.

Homes with sea views in the Thanet town had an average asking price of £456,041, a 26% premium on the typical £362,201 for other properties in the area.

Hythe, which had the fourth largest sea view price at £447,456, actually had a higher premium.

A house in Westgate with sea views
A house in Westgate with sea views

There buyers were prepared to pay a whopping £100,906 extra for a property with sight of the water, up 29% on average prices in the town.

In Whitstable, buyers were happy to shell out £429,857, up 10% on usual values of £391,046.

The least expensive town for a home with a sea view is Morecambe in Lancashire, where a home with sight of the water would set you back £144,401, which is 7% above the area's typical price.

Rightmove director and housing market analyst Miles Shipside said: “Homes in prime positions by the sea are in a virtuous circle as previous owners are likely to have invested more in the property because they could see future potential gains.

"The local housing markets in these seaside towns around Great Britain vary significantly, but in all areas those with a sea view offer a financial advantage to home owners looking for a buyer possibly wanting to retire or use as a holiday home.

"The key is making the most of this in the pictures they use when advertising their home so a prospective buyer can see just how great the views are before they book an appointment.”

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