Mumbles in Wales has been identified as Britain’s top seaside house price hotspot.
Nestled on the coast of Swansea Bay, the average price tag on a home in Mumbles has surged by 47%, or £110,537 in cash terms, since 2015.
This places it at the top of the coastal locations analysed by Rightmove.
It is the area where Catherine Zeta-Jones grew up, and estate agents report that a seafront restaurant and retail development there has contributed to its popularity, alongside its outstanding beaches.
With Swansea providing commuter train links, and more people working from home amid the coronavirus pandemic, agents have also seen an uplift in home buyers from London and Bristol over the past year.
The average seller asking price in Mumbles is £344,832 – less than a third of the average price tag on Britain’s most expensive coastal location, according to Rightmove, which is Sandbanks in Poole.
The average asking price in Sandbanks, a favourite haunt for celebrities, is £1.2 million.
However, asking prices in Mumbles are still nearly £130,000 higher than the average price tag on a home in Wales and around £22,000 higher than across Britain generally.
Camber in East Sussex, and Fowey in Cornwall were next on the hotspots list. Both areas have seen average asking prices rise by 45% over the past five years.
The research also found that Seaford in East Sussex has emerged as the coastal town with the biggest spike in interest over the past 12 months.
Potential buyer searches for Seaford have more than doubled (104% increase) in the past year.
Teignmouth in Devon (99% increase) and Shoreham-by-Sea (96% increase) are two other coastal areas that have seen a sharp rise in searches.
Rightmove’s director of property data Tim Bannister said: “Relocating to a coastal area is a dream move for many home hunters and it’s safe to say that lockdown has intensified that desire to live beside the sea for many people.
“Properties in seaside towns usually come at a premium, but what’s fascinating about this list of coastal price hotspots is that there’s a relatively wide range of price points.
“Mumbles has always been a popular destination among British holidaymakers and therefore it stands to reason that home hunters would seek it out for their year-round fix of sand and sea.”
Ben Davies, managing director at Belvoir estate agents in Mumbles, said: “As a former Victorian fishing village, Mumbles has definitely got its own identity. It’s a destination in its own right and we’ve always seen huge demand to live here.
“Mumbles is perched on the coast of Swansea Bay, just down the shoreline from Wales’s second city, so we’ve got easy access to all the amenities that a city has to offer without being a part of it.
“Our coastlines are spectacular as well, that’s a major draw for people, and Mumbles is the gateway to Gower.”
He added: “Mumbles has seen lots of development in recent years, too. Oyster Wharf is a shining new development which has created a Mediterranean-style plaza fronting onto the seafront.
“However, the town has still retained its charm and you’ll find lots of seafront restaurants and independent boutiques, bars and delis down here.
“What also goes in Mumbles’ favour is that you can get a lot more bang for your buck here, despite the rising prices, than in places like Cornwall and Devon. It’s popular for people who work in London part of the week, as there’s a direct train link from Swansea to Paddington.
“This year especially, we’ve seen a marked increase in purchases from buyers in London and Bristol. Now that people can work remotely, I think they’d rather have sea views whilst they work than blocks of concrete.”
– Here are the top 10 coastal areas with the biggest five-year increase in average asking prices, according to Rightmove. Figures show the average asking price in October 2020 and the five-year percentage change compared with October 2015:
1. Mumbles, Swansea, £344,832, 47%
=2. Camber, East Sussex, £305,891, 45%
=2. Fowey, Cornwall, £487,531, 45%
4. Sandilands, Lincolnshire, £268,527, 43%
=5. St Margaret’s-at-Cliffe, Kent, £362,982, 42%
=5. Aberavon, Port Talbot, £136,710, 42%
=7. St Agnes, Cornwall, £442,383, 40%
=7. Greatstone, Kent, £338,839, 40%
=7. Mundesley, Norfolk, £286,254, 40%
=7. Benllech, Anglesey, £289,390, 40%