What a Padstow or Falmouth home bought in 2016 is worth now

If you bought a home in Padstow ten years ago, it has probably been one of the better decisions you have made. A new ranking of the UK’s coastal holiday hotspots puts the north coast harbour town sixth in the country for price growth over the last decade. And it isn’t the only Cornish name on the list.

Padstow sixth in the UK

Average prices in Padstow have climbed 60% since 2016, from £443,396 to £711,458 today.

The bustling fishing port sits on the Camel Estuary on Cornwall’s north coast. Often nicknamed Padstein, it gained global fame through Rick Stein, who opened The Seafood Restaurant along with a run of cafes and fish and chip shops. The town has also been used several times as a film location, including for The Salt Path and Oscar and Lucinda.

Falmouth close behind

Falmouth came in seventh, one place behind Padstow. Prices there have risen 59%, from £226,217 to £360,332.

Rental values have grown by similar levels across the top ten locations, Padstow included.

📷Alto chief executive Riccardo Iannucci-Dawson. Credit: Alto

How the list was put together

The figures come from Alto, a property software provider connected to more than 6,000 estate agents across the UK. Around 35% of UK estate agents use its system, and it has tracked sales across the regions over the last ten years.

Alto shortlisted the UK’s favourite coastal holiday home hotspots, then ranked the ten where prices had risen fastest over the decade.

What’s been driving prices

Alto chief executive Riccardo Iannucci-Dawson said: “Seaside holiday homes can still be a great buy if you pick the right place and Padstow and Falmouth have been a great investment for decades.”

Riccardo said prices shot up for seaside homes during Covid as people looked to escape cities for a simpler life. He said there was a correction after that, and that second home council tax charges in some popular areas have also affected the market.

But he believes British resorts are becoming a more attractive option. “Global warming is making many parts of Europe too hot in the summer and British coastal resorts are an increasingly attractive option for many holidaymakers,” he said.

Thinking of buying by the sea?

Riccardo’s advice is to study where prices and rental yields have grown most consistently, rather than buying on looks alone.

“The best reason to buy a seaside home is to have a wonderful place where you can relax with your loved ones and earn good rental returns when you are not there,” he said.

“They can be a fantastic investment if you look at the data carefully and pinpoint where prices and rental yields have grown most over the last decade.

“Padstow and Falmouth stood out in Cornwall but all the locations in the top ten would make good investments and will provide a good return in the long-term.”

The UK’s top ten seaside holiday locations

Price growth from 2016 to 2026:

1. Southwold, Suffolk: up 94%, from £231,236 to £448,106
2. Sandbanks, Dorset: up 93%, from £664,655 to £1,282,565
3. Saltburn-by-the-Sea, North Yorkshire: up 75%, from £129,363 to £227,022
4. Croyde, Devon: up 68%, from £439,975 to £740,747
5. West Wittering, West Sussex: up 63%, from £598,788 to £977,282
6. Padstow, Cornwall: up 60%, from £443,396 to £711,458
7. Falmouth, Cornwall: up 59%, from £226,217 to £360,332
8. Burnham Market, Norfolk: up 56%, from £457,050 to £715,452
9. Margate, Kent: up 54%, from £202,276 to £312,195
10. Salcombe, Devon: up 53%, from £539,950 to £828,630

The data and methodology behind the list are on the Alto website.

📷Padstow harbour