In the post-pandemic property market, buyers in coastal locations are facing increased options but also higher prices. Zoopla reports a nationwide increase in property availability by around 20% compared to 2022. Regions like Cornwall, Bournemouth, Christchurch, Poole, and North Kesteven in Lincolnshire have witnessed significant supply increases.
Zoopla attributes this surge to robust house price growth over the past five years, with Cornwall experiencing a 27% increase and Bournemouth, Poole, and Christchurch seeing a 20% jump. The rise in supply appears to be extending property selling times, particularly in Cornwall and Bournemouth.
Zoopla highlights that the return to office or hybrid working may have reduced the motivation for lifestyle-based moves. Senior property researcher at Zoopla, Izabella Lubowicka, emphasizes the need for realistic property pricing amidst affordability concerns.
Sam Turner, director at Cornwall-based estate agent Kivells, confirms the increase in property listings, giving buyers more options. He suggests that this surge is also benefiting sellers as they have a wider selection for their subsequent purchases.
In Wales, areas like Caerphilly and the Vale of Glamorgan, due to their proximity to Cardiff, are experiencing a significant increase in available properties. The East Midlands has also seen a pronounced increase in supply, particularly in rural areas like southern Lincolnshire and Derbyshire.
