House prices more than double in half of seaside towns since 2002

House prices have more than doubled in half of the seaside towns surveyed in England and Wales since 2002, according to the Halifax's latest report. Over the past decade, the average house price in seaside towns rose by 97%, slightly ahead of the 95% increase in the whole of England and Wales. The annual Halifax Seaside Town Review tracks house price movements in 136 seaside towns in England and Wales. The review is based on house price data from the Land Registry and covers the period of February 2002 to February 2012. Seaham, in County Durham, has recorded the biggest rise over the past decade with the average house price increasing by almost 183% from £38,443 in 2002 to £108,742 in 2012. Wadebridge and Padstow - both in Cornwall - have seen the next largest rises with increases of 173% and 171% respectively. The average price in Wadebridge is now at £348,986, and £382,806 in Padstow. There is a marked North-South divide in house prices in seaside towns, despite big increases in house prices in many seaside towns in the north over the past ten years. All ten of the most expensive seaside towns are on the south coast with eight in the South West. Salcombe in Devon (£528,920) and Sandbanks in Dorset (£525,927) have the highest average prices with both also featuring amongst the most expensive areas in the country. May 18, 2012