Northumberland town named as one of the cheapest seaside locations to buy a home

A Northumberland town has been found to be one of the least expensive places in the UK to buy a seaside home.

Newbiggin-by-the-Sea was the only place in England featured in the top 10 cheapest locations to own a home by the sea according to analysis from Halifax, coming in at the sixth least expensive place overall. The bank looked at average house prices for last year in 209 coastal spots across the country, with Scotland dominating the lower end of the list while locations down in the South West and South East of England were found to be the priciest.

The most expensive coastal town to buy a home was found to be Salcombe in Devon, where the average price stands at an eye-watering £1.2m - Devon took a total of four spots in Halifax's list of the top 10 most expensive locations. At the other end, Greenock in Inverclyde came in cheapest overall with an average house price of just £97,608 - one of nine places in Scotland featured in the top 10 least expensive locations to own a home.

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Kim Kinnaird, mortgages director at Halifax, said: "For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits. But this comes at a price in many locations and Britain’s most expensive seaside spot, Salcombe in Devon, will set buyers back over £1.2 million on average."

The director added: "Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations. While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play. Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore."

Here's the full list of the 10 cheapest locations in the UK to buy a home by the sea, according to data from Halifax:

1. Greenock, Inverclyde, Scotland - £97,608
2. Girvan, Ayrshire, Scotland - £105,410
3. Millport, Ayrshire, Scotland - £111,381
4. Invergordon, Ross and Cromarty - Scotland - £114,962
5. Saltcoats, Ayrshire, Scotland - £116,414
6. Newbiggin-by-the-Sea, Northumberland - £117,663
7. Stranraer, Dumfries and Galloway, Scotland - £117,884
8. Wick, Caithness, Scotland - £124,857
9. Thurso, Caithness, Scotland - £126,716
10. Campbeltown, Argyll and Bute, Scotland - £129,348

And the 10 most expensive seaside locations for home buyers according to Halifax are:

1. Salcombe, Devon, South West - £1,244,025
2. Sandbanks, Dorset, South West - £952,692
3. Aldeburgh, Suffolk, East of England - £794,492
4. Padstow, Cornwall, South West - £790,847
5. Lymington, Hampshire, South East - £663,474
6. Yarmouth, Isle of Wight, South East - £611,816
7. Dartmouth, Devon, South West - £567,985
8. Kingsbridge, Devon, South West - £556,659
9. Wadebridge, Cornwall, South West - £548,669
10. Budleigh Salterton, Devon, South West - £537,681

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