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Urban residential property costs escalate as the conclusion of the remote work phase encourages purchasers to return to suburban city neighborhoods, affecting seaside housing prices.

Coastal areas witnessing the steepest property price declines following the housing market summit in late 2022, as per the data.

Urban residential property costs escalate as the conclusion of the remote work phase encourages purchasers to return to suburban city neighborhoods, affecting seaside housing prices.

The post-pandemic landscape has seen a shift in real estate trends, with once-coveted coastal properties now witnessing a drop in house prices. In the realm outside London's exclusive property market, it's the sea-side locales that have experienced the biggest price drops since the housing market peak in late 2022.

Places like Hastings, a location that boasted a 29% price surge between 2019 and 2022, witnessing a 8% decline since, taking the average house price down to £209,760 in 2024. The rocketing demand for these properties during the pandemic was due in large part to the 'race for space' trend, which saw people prioritizing extra room amidst successive lockdowns.

However, it's not just coastal areas that are experiencing growth. Suburbs of major cities have become the new hot spots, as buyers desiring a more balanced living situation flock to these areas, which offer a blend of space, gardens, and affordable commutes into the city.

Manchester's M8 postcode, for instance, saw the largest house price rise in 2023-24, with a 16% surge to £207,900. This is a testament to the enduring appeal of suburban homes that offer amenities, affordability, and easy access to employment.

While the coastal market may be cooling off, some coastal towns, like Neath Port Talbot in Wales, have continued to grow. Despite a slight decline of 2.5% between 2022 and 2024, prices now sit at £154,970, marking a total increase of 36.2% since 2019.

In summary, the real estate market post-pandemic has seen a shift in demand, with coastal properties experiencing cooling-off due to a variety of factors such as increased borrowing costs, second home tax changes, and the return to more traditional work arrangements. However, suburban areas, particularly in major cities, have emerged as strong contenders for those seeking a balanced living situation with easy access to employment opportunities.

  1. The shifting landscape of the post-pandemic housing market has led to a decline in coastal property prices, with averages dropping to £209,760 in Hastings by 2024, following a 8% decline from the 2022 peak.
  2. Mortgages and taxes have become significant factors influencing the housing-market trends, as increased borrowing costs and changes in second home taxes are leading to a cooling-off of coastal markets.
  3. With suburbs offering space, gardens, and affordable commutes, they have become the new hotspots for those prioritizing a more balanced living situation in the realm of personal-finance.
  4. The suburban housing market is demonstrating growth, with Manchester's M8 postcode experiencing a 16% surge in house prices to reach £207,900 in 2023-24.
  5. The coastal town of Neath Port Talbot in Wales has witnessed a slight decline but continuous growth, with house prices now at £154,970 after a 36.2% increase since 2019.
  6. The post-pandemic real-estate industry, characterized by the decline in once-coveted coastal properties and the rise of suburban areas, indicates a significant change in investment strategies for finance professionals focusing on housing-market trends.
Coastal areas witnessing the steepest property price decreases post-peak housing market in late 2022, according to analytics.
Coastal areas witnessing the steepest housing market price declines since the 2022 peak are predominantly seashore locations, according to data.

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