60 Second Property Digest – waterfront premiums remain strong
Chris Druce, UK residential research, picks the key highlights from the Waterfront Homes publication and reveals where the premiums are the highest.
13 September 2023
Waterfront homes 2023
A UK home by the water was worth up to 48% more on average compared to an equivalent non-waterfront property in the second quarter of this year.
This was in line with 2022 according to Knight Frank’s Waterfront Index, highlighting the depth of demand for such properties.
The pandemic has not only made a home by the water more desirable, but it’s also made it more realistic, with many employees no longer required to be in the office five days a week.
Where are residential premiums?
However, not all waterfront locations are equal.
You can expect to pay a waterfront premium, compared to non-waterfront properties, depending on the body of water you live near. Our latest research shows the extra you will need to pay:
1. Lakeside homes +71%
2. Coastal homes + 66%
3. Estuary + 64%.
Despite the slowing UK property market, the scarcity of waterfront homes and resilient demand means we don’t expect a material change to the premium during the next year.
