Waterside properties price drop

WATERSIDE properties have dropped in price for the first time in five years, it has been claimed.

Although according to the Jackson-Stops annual waterside review, this trend is not expected to last.

Last year, waterside homes commanded a two per cent price premium on average, a fall on the seven per cent premium seen in 2022.

Nick Leeming, who chairs Jackson-Stops, said: “The cyclical nature of the market means that it is likely that a past drop in waterside prices won’t last for long. Their scarcity and kudos are such that by their very location, they will always remain desirable.

“But what the rebalancing of prices in 2023 does represent is a rare opportunity for buyers to act now and purchase at a good price. We are now far beyond the wild highs in price premiums seen after the coronavirus lockdown, in a time where stability and supply are key drivers in the market moving forwards, levelling out the playing field for all.”

The new data highlights flats by the coast, on rivers, canals and estuary locations command the highest premiums than detached, semi or terraced housing.

Mr Leeming said: “Those homes that offer this unique waterside lifestyle often operate in their own sub-market, far exceeding anything similar inland. On some occasions, best-in-class examples can sell for a 20 per cent to 30 per cent premium when the market conditions are right.”