High prices in South West resorts

Seaside towns in the South West are among the most expensive resorts to buy property in, according to a survey of price rises in 2007.

The figures compiled by Halifax estate agents show that six out of the 10 most expensive places to by a home by the sea are in Cornwall and Devon.

In Rock the average cost of a property rose 28% last year to £362,000.

Other resorts in the top 10 include Padstow, Fowey, St Mawes, Budleigh Salterton and Sidmouth.

Highest rises

The most expensive place to buy a home by the sea is Sandbanks in Dorset, where property prices cost an average of £628,000.

The Cornish surfing resort of Rock is the second most expensive place to buy a home but saw the highest price rises in 2007.

Prices in the fishing village of Fowey increased by a fifth to £343,000.

In Padstow the average house now costs £348,352.

"People will always like to live by the seaside"
Gordon Edwards, Halifax estate agents

The Devon resorts are in general slightly cheaper. In Budleigh Salterton the average house price is £302,985, and in Sidmouth it is £299,013.

Halifax examined house prices in 28 seaside towns in England and Wales for the survey.

Gordon Edwards, managing director of Halifax, said: "Properties in quite a few seaside towns have more than doubled in price over the past five years.

"We now expect some decline in property prices in seaside towns. Whilst they are not immune to wider market developments, there will continue to be a premium for coastal properties as people will always like to live by the seaside."

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