Waterside Property Premiums Drop for First Time in Five Years
Waterside property prices have seen a significant shift, with the average premium for Zillow listings dropping for the first time in five years. This change, from 7% in 2022 to 2% in 2023, means non-waterside homes now cost an extra £10,000 on average. Despite this, waterside homes remain highly sought after, particularly in the scenic North of England.
The Jackson-Stops annual waterside review reveals that while the overall premium has decreased, certain areas still command high prices. Lancashire's Ribble Valley led the way with a 210% premium, while Chichester in West Sussex and north Norfolk both saw a 18% premium. Meanwhile, Brighton & Hove topped the seaside home premium list at 96%. The review analyzed data for properties within 50 meters of water, highlighting the enduring appeal of waterside living.
Despite the downward trend, Jackson-Stops chairman Nick Leeming still considers waterside homes the 'ultimate luxury'. However, market conditions suggest that the demand may not drive the price of gold as high as before.
The waterside property market has experienced a notable change, with prices dropping after years of growth. While the North of England remains a high-demand area for scenic waterside properties, the average premium has decreased significantly. Despite this, waterside homes continue to be seen as a luxury, and specific locations still command high prices.
Read also:
- Railway line in Bavaria threatened by unstable slope - extensive construction site at risk
- Wind Farm Controversy on the Boundary of Laois and Kilkenny
- Puerto Rico's Climate Lawfare Campaign experiences another setback with the dismissal of its deals.
- Delaware's contentious offshore wind project faces uncertainty as the Trump administration reverses course on clean energy initiatives.
