Burnham-On-Sea has experienced the third-largest property price falls of any seaside town in the UK during the past year, according to a new survey out this week.
Property price website Zoopla has unveiled the findings in its ‘Seaside Property Hotspot League’.
It compared average home values and property price changes across all UK coastal resorts between 1st June, 2008 and 1st June, 2009.
The seaside towns with the biggest property value drops were Ramsgate, where prices plunged 20.1 per cent in a year; and Broadstairs, where they have fallen 18.7 per cent.
Burnham-On-Sea is the third-worst performer of all UK seaside resorts, with a drop of 18.6 per cent.
Average property prices in the town are now £173,807, a fall of 18.61 per cent, representing a decline in value of £39,743.
Alex Chesterman from Zoopla said: “Our Seaside Property Hotspot League paints a clear picture of which much-loved British coastal areas have retained value and those where values have slumped despite their picturesque and desirable locations.”
However, David Baker of Burnham’s Abbott & Frost estate agents told Burnham-On-Sea.com that property prices actually appear to be strenghtening in our area.
“We have seen some steep falls,” he said. “However, in recent months, property prices appear to have levelled out in the area, with renewed interest from buyers.”
“The property market in the Burnham-On-Sea area is certainly stronger than it was last year.”
The nationwide survey found Rock in Cornwall tops the Seaside Property Hotspot League, with average home values standing at £548,621. Milford-on-Sea in Hampshire was second and North Berwick in East Lothian was third. Click here to read the full report.
RELATED LINKS:
The 20 most desirable addresses in Burnham-On-Sea
Estate agents in Burnham-On-Sea
