Mumbles named top seaside hotspot for house price growth in Britain

The Mumbles Pier has been part of Swansea Bay since 1898. Credit: ITV Wales

Mumbles has seen the highest growth in house prices compared to any other seaside location in Britain over the last five years, figures have revealed.

Situated in Swansea Bay and marking the start of the popular Gower Peninsula, the average price tag on a home there has risen by 47 per cent, or £110,537, since 2015.

The seafront restaurant and retail development there has contributed to its popularity, alongside its outstanding beaches, according to estate agents.

The area - where actor Catherine Zeta-Jones grew up - also has commuter train links from Swansea, which has led to a recent rise in home buyers from London and Bristol.

Mumbles marks the start of the Gower Peninsula, a popular tourist destination. Credit: ITV Wales

According to Rightmove, the average asking price in Mumbles is £344,832 - less than a third of that in Sandbanks, Poole, which is Britain's most expensive coastal spot.

The average asking price in Sandbanks, home to celebrities including football manager and 2018 I'm A Celebrity... Get Me Out Of Here! winner Harry Redknapp, is £1.2 million.

However, asking prices in Mumbles are still nearly £130,000 higher than the average price tag on Welsh homes, and around £22,000 higher than across Britain.

Aberavon in Port Talbot and Benllech on Anglesey also made the list - with both areas have seeing house prices rise by more than 40 per cent since 2015.

The top 10 coastal areas with the biggest five-year increase in average asking prices, between October 2015 and October 2020:

  • Mumbles, Swansea, £344,832, 47%

  • Camber, East Sussex, £305,891, 45%

  • Fowey, Cornwall, £487,531, 45%

  • Sandilands, Lincolnshire, £268,527, 43%

  • St Margaret's-at-Cliffe, Kent, £362,982, 42%

  • Aberavon, Port Talbot, £136,710, 42%

  • St Agnes, Cornwall, £442,383, 40%

  • Greatstone, Kent, £338,839, 40%

  • Mundesley, Norfolk, £286,254, 40%

  • Benllech, Anglesey, £289,390, 40%

In February, the town was paid a royal visit by the Duke and Duchess of Cambridge, where they were greeted by large crowds of well-wishers.

The couple paid a visit to the RNLI's Mumbles lifeboat station overlooking Swansea Bay, one of Wales' busiest.

The Duke and Duchess of Cambridge paid a royal visit to the town in February. Credit: PA Images

It's believed the pandemic has caused a spike in the number of people wishing to live by the seaside.

"Relocating to a coastal area is a dream move for many home hunters and it's safe to say that lockdown has intensified that desire to live beside the sea for many people," Tim Bannister, director of property data at Rightmove, said.

"Properties in seaside towns usually come at a premium, but what's fascinating about this list of coastal price hotspots is that there's a relatively wide range of price points.

"Mumbles has always been a popular destination among British holidaymakers and therefore it stands to reason that home hunters would seek it out for their year-round fix of sand and sea."

Ben Davies, managing director at Belvoir estate agents in Mumbles, said: "As a former Victorian fishing village, Mumbles has definitely got its own identity. It's a destination in its own right and we've always seen huge demand to live here.

"It has seen lots of development in recent years, too. Oyster Wharf is a shining new development which has created a Mediterranean-style plaza fronting onto the seafront.

"However, the town has still retained its charm and you'll find lots of seafront restaurants and independent boutiques, bars and delis down here.

"What also goes in Mumbles' favour is that you can get a lot more bang for your buck here, despite the rising prices, than in places like Cornwall and Devon."