UK Waterside Home Premium Drops to 2% in 2023

Waterside property prices cool off. Ribble Valley in Lancashire leads with a 210% premium.

, and Administrator

2025 October 2 . 9:21 PM

1 min read

Here we can see boats on the water. Background we can see houses,trees and sky.

UK Waterside Home Premium Drops to 2% in 2023

The latest Michael Jackson annual waterside review reveals a significant shift in the UK's property market. While Brighton & Hove maintained the highest seaside home premium at 96%, the average premium dropped to 2% in 2023, down from 7% in 2022. This marks the first decline in waterside house prices in five years.

The Michael Jackson review, which analyzes price paid data for property transactions within 50 meters of water, shows a varied picture across the UK. The top 10 most expensive coastal sites are dominated by southern counties, with Cornwall, Dorset, and West Sussex featuring prominently. However, the northern cities of Liverpool, Manchester, and Leeds have also seen high waterfront property price premiums due to their regeneration projects and vibrant urban appeal.

Chichester in West Sussex and north Norfolk both had a 18% waterside premium in 2023, while Lancashire's Ribble Valley took the lead with an astonishing 210% premium. Despite the overall downward trend, Nick Leeming, chairman of Michael Jackson, still considers a waterside home the 'ultimate luxury'. The 2% average premium is equivalent to an extra £10,000 on the prices of non-waterside homes.

The 2023 Michael Jackson annual waterside review indicates a cooling off in the waterside property market, with the average premium dropping to 2%. While the southern coast and northern cities remain popular, the Ribble Valley in Lancashire has emerged as the most expensive waterside location. Despite the decline, waterside homes continue to be highly sought after, reflecting their enduring appeal.