Southport has been named as one of the most affordable towns in the UK for buying or renting a home.
The popular coastal destination is enjoying significant investment at the moment, with work taking place to create a £73 million new Marine Lake Events Centre, and funding announced last month to restore Southport Pier and create a new £10 million Town Hall gardens events space.
Coastal living is surging in popularity, with Google searches for “best and worst seaside towns UK” having jumped by +750% in the past week alone. As more people consider swapping urban life for sea air, views, and a slower pace, the dream of owning or renting by the coast is stronger than ever. But with waterfront homes typically commanding a 48% premium over inland properties, where can you still find an affordable seaside home?
The Co-operative Bank examined key affordability factors across UK coastal towns to determine which were the best value for money. The research analysed average house and rental prices, the number of beaches, crime rates, walkability scores, and daily sunshine hours.
Southport ranks eighth among the UK’s most affordable seaside towns. The town boasts an impressive affordability score of 9.09, with house prices averaging £239,472 and the average rent £895, representing 9.97 times the yearly income, and rents accounting for 44.71% of the average monthly income.
Oban tops the list as the UK’s most budget-friendly seaside town, with an overall affordability score of 9.82 out of 10. Known as Scotland’s seafood capital, this picturesque town has one of the lowest average house prices at £220,458. Rent is also notably affordable, averaging £800 per month, just 34.7% of the average monthly income, the lowest rent-to-income ratio among all the locations analysed.
Morecambe ranks second with a total affordability score of 9.80 out of 10. This Lancashire gem captures the essence of the English seaside and has some of the most affordable house prices in the country. The average house price here is lower than in Oban at £194,295. However, rent prices in Morecambe are slightly higher, at an average of £821 per month, working out at 37.7% of the average monthly income.
Blackpool ties with Morecambe for second place, with an overall score of 9.80. The average house price in Blackpool is around £147,449, making it the most affordable seaside town in the UK for property purchases. Unfortunately, Blackpool is slightly let down by its rent prices. At an average of £704 per month, rent in Blackpool works out as 40% of the average monthly salary, which is higher than in Morecambe or Oban. That being said, it remains among the most budget-friendly options in the country.
Additional findings:
- Salcombe is one of the most expensive seaside towns in the country, with house prices averaging £744,940 and rent costing £2,995 pcm.
- Falmouth, St Ives and Newquay are crowned the best seaside locations in the UK.
Do you have a story for Stand Up For Southport? Do you need advertising, PR or media support? Please message Andrew Brown via Facebook here or email me at: mediaandrewbrown@gmail.com
