First time buyers advised on seaside town purchases

13-Aug-2007

Seaside towns such as Great Yarmouth and Bridlington offer good value deals for first time buyers and other prospective homeowners but the sub-sector as a whole has seen strong price growth of late, a new report from Halifax reveals.

The lender's annual Seaside Town Review has found that while Christchurch in Dorset and Leigh-on-Sea in Essex offer the highest quality of life in terms of seaside towns, areas such as Bridlington combine good living with low prices.

The average price of a home in Bridlington, for example, is just £139,645, the study notes.

"There are still some bargains to be had for home buyers," commented Halifax Estate Agents managing director Colin Kemp.

"Bridlington, Lowestoft and Great Yarmouth are the three seaside towns in Britain that offer the best value for money. Several seaside towns in the south-east also offer a combination of relatively low property prices and a high quality of life," Mr Kemp outlined.

But Knight Frank believes that prices for second homes in seaside resorts will rise by 20 per cent in 2007, according to the Financial Times.

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