Where have house asking prices grown the most in the last year?

House hunters continue to head for the coast, with the fishing town of Brixham in Devon seeing asking prices rise more than any other area over the last year.

The Devon hotspot saw asking values jump 25 per cent last month compared to a year earlier, reaching £329,699 on average, according to Rightmove.

Overall, in the borough of Torbay, where Brixham is located, asking prices are up 21 per cent during the past year, with buyer demand – defined as enquiries to estate agents via its website – up 6 per cent.

Nearly two years on from the start of the pandemic restrictions there seems to be no let up in desire for more open space, particularly near the seaside.

Rightmove has revealed the places where asking prices have risen the most in the past year

While some seaside towns become incredibly quiet out of season, at the heart of Brixham is a fishing community that means it is busy throughout the year.

Estate agents said the area is continuing to attract city dwellers – and not just those seeking second homes but those who are moving to the area lock, stock and barrel.

Ben Strike, of Boyce Brixham, explained: ‘Just half an hour from Exeter and nestled on the coast between the family resorts of Torquay and Dawlish to the North and the beautiful South Hams in the other direction, Brixham is perfectly positioned to take advantage of everything that South Devon has to offer.

‘In a post-pandemic world, we have seen a marked influx of all types of buyers. 

‘City dwellers are keener than ever for that idyllic fisherman’s cottage by the sea to retreat to at the weekend, and families are giving up the urban belts completely, in favour of a full-time move to the coast.’

The Devon hotspot of Brixham (pictured) saw asking values jump 25 per cent last month compared to a year earlier, reaching £329,699 on average, according to Rightmove

He added: ‘With prices considerably less than neighbouring Dartmouth and with a much shorter travel time to the area than Padstow and St Ives in Cornwall, the secret of Brixham is definitely out.

‘With its world-famous fish market and fishing heritage at its very heart, Brixham has become a real destination for seafood aficionados. 

‘There is an abundance of new and well-established bars and restaurants, and unlike many seaside towns that close during the winter season, the thriving fishing community, which is busiest during the winter, ensures that there is life bustling through the town all year-round.’

Mike Williams, of estate agents Eric Lloyd & Co in Brixham, said: ‘Brixham has always been a popular destination for tourism, but the lockdown has provided the opportunity for many people to work flexibly, and realise their dream of living by the sea.

‘Interestingly, the demographic of retiring buyers has also changed. We are seeing far more people buying a cottage in the harbour area, and enjoying their retirement walking to the breakwater, or seal and dolphin watching off Fishcombe Cove, followed by a coffee or breakfast in one of the excellent cafes in the town.

‘Demand for cottages for this purpose, or as second home or holiday let, has never been so high, and some of the achieved prices have exceeded even our expectations.’

This three-bedroom detached house in Brixham is for sale for £550,000 via estate agents Boyce Brixham

The detached property has far-reaching views of the sea and is only a five minute walk from the harbour

The spacious property has easy access into the town of Brixham and all of its facilities

Second in the list of areas where asking prices have seen the risen the most during the past year is the suburb of Jesmond in Newcastle Upon Tyne, where average asking prices are up 23 per cent over the last year, rising to £361,564.

The increase outpaces the wider Newcastle area where asking prices have risen 7 per cent on annual basis.

Farnham in Surrey is ranked third, with a rise of 22 per cent in asking prices during the past year, rising to an average of £728,413.

Pictured: Farnham in Surrey is ranked third, with a rise of 22 per cent in asking prices during the past year, rising to an average of £728,413

Also included in the list of top 10 are Gedling, Nottinghamshire, Newton-Le-Willows, Merseyside and Cowes, on the Isle of Wight.

Across Britain, average asking prices are up 9.5 per cent annually in February and new listings are up 16 per cent compared to January.

Rightmove’s Tim Bannister, said: ‘The rise in the number of buyers looking for a home by the coast since the pandemic started is still being felt in asking price rises nearly two years on as Brixham takes the top spot for annual asking price growth this month.

‘The data shows that prices in the Devon borough of Torbay grew steadily between 2020 and 2021 as supply kept better pace with demand, but have accelerated over the last year as the number of buyers looking in the area has outpaced the homes available.

‘However, a recent uptick in the number of new listings compared to last year will be some welcome news for those looking to buy in Brixham.’