Housing prices soar on coastline

House prices on the north Northumberland coast rose by more than 120 per cent over ten years, according to new research.

The data, released by Lloyds TSB on Monday, showed that prices in the Northumberland Coast AONB (area of outstanding natural beauty) rose by 124 per cent from £82,819 in 2002 to £185,376 – the second-highest percentage rise of the 32 English AONBs.

Suren Thiru, housing economist at Lloyds TSB, said: “The value of homes within areas of outstanding natural beauty has risen substantially over the past decade.

“The relatively high property values in many of these locations reflect the quality of life benefits associated with living in some of our most idyllic beauty spots.”

The rise in the typical AONB property price since 2002, at 87 per cent, was nearly three times the increase in average earnings.