Tuesday, 21 September 2021

You’ll pay a premium for a home by water

A REPORT has shown that homes close to water are on average 30 per cent more expensive than similar homes that are not, writes Alison Stodolnic.

The Waterside Index survey conducted by Strutt and Parker looked at all properties near water — including rivers, the sea, harbours and estuaries, lochs and streams.

The report claimed that in the South East the number of people wanting to live in a coastal property had quadrupled from three per cent in 2014 to 12 per cent in 2015.

Other areas where demand has grown include the east coast of Kent and the South West.

In areas like Dartmouth, Topsham, and Salcombe — well known for their yachting scene — a view of the sea or estuary view can increase the value of a property by up to 50 per cent.

The reasons why properties close to water command such a price premium are many and varied.

The views are a big part of it of course — the more picturesque the better — and an outdoor lifestyle of fishing, boating or swimming is irresistible to many house-hunters.

Direct access to water in today’s housing market is in limited supply, and with that comes an increased demand, which naturally pushes prices up.

River moorings, jetties, fishing rights, a short stroll to the sand all come at a premium.

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