A recent study by the Co-Operative Bank classed Southport as one of the country’s most affordable towns for buying or renting a property. What are the main factors that make this town one of the best places to get value for money?
The Seaside Premium
We should start by looking at how Southport’s standing in the property market rests alongside some of the UK’s other most popular coastal towns. The recent statistics come amidst a general surge in interest among people who want to live beside the seaside. Of these, Plymouth amassed the highest number of transactions last year, at 3,258. Sandbanks in Dorset has long been classed as the UK’s most expensive seaside location, while Saltcoats in Ayrshire has also been hailed for the cheapest houses.
Sandbanks is the only coastal town in the UK with an average property price over £1 million, clocking in at £1,282,565. The rest of the top ten are also on England’s south coast, with Peterlee in Durham, Ashington in Northumberland and Bootle in Merseyside following Saltcoats at the most affordable end of the scale. The Co-Operative study also had Scotland providing top place, but they called Oban the most affordable town, followed by Morecambe and Blackpool.
In this list, Southport comes in eighth, thanks to an average property price of £239,472. A vibrant housing market means that new purchasers can more easily find the ideal property for their needs, while sellers can quickly access cash house buyers online. This type of service takes the stress out of selling by swiftly arranging a valuation and working out a deal. This helps the property market flow by cutting out the long waiting period while sellers wait for buyers to meet their asking price and make a final decision.
What Makes Southport Good Value?
When considering property prices, we need to take into account the factors that make an area good or bad value. In the case of Southport, the investment work going on to create the Marine Lake Events Centre & Water and Light Show is a sign of the progress being made. This £73 million events centre will be capable of holding a large variety of shows and conferences once completed.
Another important piece of work could be carried out soon in the project to bring Southport Pier back to its best. This Victorian pier has been closed since 2022, but it was recently named by Chancellor Rachel Reeves in the Spending Review as a project that could be pushed in a Growth Mission Fund.
The Southport Townscape Heritage Project started in 2019, using National Lottery funds in the plan to regenerate four key streets around the town centre. This type of work will continue to be needed to improve the town, making it more attractive to investors and purchasers alike. Meanwhile, the People of Southport project is curated by Sefton Council and aims to create a stronger community spirit among those who live here.
All of these issues add up to make Southport an attractive destination for house purchasers and renters looking for a new place to live. Its location by the seaside helps make it more appealing to many people, while the good value on offer means that it makes economic sense too.