Salcombe knocked off pricey property pedestal

It's now only the second most expensive coastal town

Now's the time to snap up a bargain home in Salcombe. Average prices have tumbled.

The annual Lloyds Bank report of property prices in Britain's seaside towns is out, and it reveals a tumble for the posh South Hams location.

For Salcombe has been knocked off the top spot of pricey places by upstart Sandbanks in Dorset, which has been snapping at its heels.

The average price for a home in Sandanks last year was a tad short of a million pounds. But even at £965,000, that was down three per cent.

But it's small beer considered to the precipitous fall in Salcombe. In 2022, it was riding high, with the average home changing hands for £1.2 million. That fell to £970,000 the following year. 

But last year's drop has been more dramatic. The average buyer paid a bargain £826,000 last year.

How the mighty fall.

Now it could all be down to quaint millionaires staying in their homes and letting the little people sell up their shoe boxes. That would bring the average down considerably.

Or maybe it makes it the perfect time to snap up a bargain home in the town, which is famously for its fabulous views, sailing clubs, and high-end shops, restaurants and galleries.

Overall, Devon still performs well in the Lloyds seaside towns report. Budleigh Salterton, Dartmouth, and Kingsbridge are all in the top 10.

You can get change (but not much) from an average home in Budleigh Salterton and Dartmouth. They cost around £495,000 last year.