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Retirees choose to rent by the sea as property prices soar

From Property Talk Live on June 4, 2015

The average price of a home in Britain’s seaside towns has risen by a third over the past ten years, according to research by Halifax, which is leading many older people to rent by the sea when they retire, says Peter Girling, Chair of Girlings Retirement Rentals.

Halifax found that the average seaside property price is now £208,729 compared to £159, 522 in 2005, with the UK’s most expensive seaside town Salcombe in Devon with an average price of £672,874, followed by Sandbanks in Dorset with an average of £614,726.

Ten out of the most expensive seaside towns are in the south of England. However, this shouldn’t put off older people who dream of living by the sea when they retire.

Peter Girling, Chairman of Girlings Retirement Rentals says: “Increasingly people see retirement as a new, exciting stage in their life and for many, living by the sea is a long held dream. With soaring property prices in seaside towns, there are other more affordable options. Renting a retirement property can offer a viable financial alternative – we have seen huge interest in our rental properties in coastal locations.”

Girlings top retirement seaside destinations for renters are:

1.    Bournemouth
2.    Hastings
3.    Clacton
4.    Westcliffe
5.    New Romney
6.    Blackpool
7.    Sheringham
8.    Scarborough
9.    Colwyn Bay

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Source: Property Talk Live