Coastal homes sell slower as market shifts back to cities

In Britain, homes located near the sea are facing a significant slowdown in the selling process. According to data from Rightmove, the time it takes to sell a home in coastal regions has increased from an average of 52 days in 2021 to 73 days in 2025, a rise of 21 days. This change reflects the broader market trends following the initial surge in demand for coastal properties during the coronavirus pandemic's 'race for space.' In March 2021, the average asking price for homes in coastal areas rose by an annual rate of 4.5%, which was nearly double the national increase of 2.7%. However, as of 2025, the annual price growth for coastal properties has slowed to just 1%, aligning with the rest of the market. The shift indicates a changing landscape where once-desirable coastal properties are losing their appeal as remote working trends fade. After a period where many sought out lifestyle changes away from urban centers, increased supply and changing buyer preferences are leading to stabilization in the coastal property market. The shifting patterns in the housing market are further underscored by the resurgence of interest in urban living, especially in London, which has regained its status as the most searched-for location on Rightmove after briefly being overtaken by Cornwall during the pandemic. Current data reveals that 58% of potential movers in London prefer to stay in the city. The initial migration trend was largely fueled by the newfound flexibility in work arrangements; however, many employers are now encouraging their employees to return to central office locations, prompting individuals to reconsider living in metropolitan areas where they could access better transport links and a broader job market. For first-time buyers, while the market has changed, there is a sense of optimism since their average borrowing power has increased over the past five years. The average asking price for a typical first home has jumped by 17% since March 2020, reaching £227,965. Coinciding with this increase in home prices is a more rapid growth in average wages, which have risen by 30% during the same period. This has allowed many first-time buyers to navigate the changing market dynamics more successfully than in previous years. Despite difficulties such as average rents surging by 42% and mortgage rates hitting an average of 4.73%, which is over double from five years prior, the higher wages provide a counterbalance. The evolving state of the property market illustrates not only the changes in buyers' preferences but also hints at the ongoing struggle renters face in today’s economy. The rise in rental prices has made it increasingly challenging for individuals to save for a home purchase, thus creating a larger gap between what they earn and what they need to buy. Furthermore, there has been a steady demand for additional living features such as garages and pet accommodations, which continues to influence buyer behavior. As life gradually returns to a more pre-pandemic normal, the trends seen in urban living and shifting buyer preferences reflect a significant recalibration in the housing market dynamics across Britain.