Prime waterfront listings in the UK are worth up to 70% more than their inland counterparts on average, with the South West commanding an extra 91%, according to new research.
Private slipways have the potential to push the premium up to as much as 118%, according to Knight Frank’s latest Prime Waterfront Index which measures the potential value uplift for prime homes with a view of water compared with similar listings located further inland.
The index data shows that the South West offers the potential for the most added value with a premium of 91%, followed by the South East at 44% and East Anglia at 41%. The premium is 27% in Wales and 33% in Scotland.
The report points out that the South West has the longest coastline of any English region and boasts some of the country’s most expensive waterfront listings, with Sandbanks, Rock and Salcombe some of the prime hotspots.
‘Amenities are also a crucial factor for many buyers and having direct access to water is something many people are prepared to pay a premium for. Private slipways are considered the most valuable feature, pushing up the waterfront premium up by as much as118%,’ said Oliver Knight of the firm’s residential research team.
The index report also reveals that listings with a private mooring or pontoon can see the waterfront premium rise to 106% and 105% respectively, while jetties and private beach access can add up to 91% and 86%.
In terms of location types, homes situated on estuaries command the largest uplift of up to 96% compared to a similar listing inland. Prime harbour side listings enjoy an uplift of up to 91% due to their rarity and prime coastal listings are worth up to 67% more.
Heading away from the sea, lakeside homes are 40% pricier than their waterless equivalent, and being situated next to a river can add up to 67% to the value of a prime residential listing.
‘Our data suggests that interest in UK waterfront listings extends beyond these shores with individuals from all over the world searching for a waterfront home in the UK last year,’ explained Knight.
Indeed, the data shows that excluding the UK, where the majority of web searches originated, this was led by potential buyers in Europe and Asia Pacific.
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Source: Property News Spain