Living by the sea is an ambition for many, and new research by Bank of Scotland has revealed that it may not be as unaffordable as some might think.
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The average house price in the UK stood at £224,439 over the three months May, according to the latest House Price Index from Halifax. This is 1.9% higher than in the same period last year. On a monthly basis, prices rose by 1.5% in May, which has partially reversed the 3.1% monthly decline experienced in April.
Average house prices across the UK fell by 0.2% in March compared to the previous month, according to the latest House Price Index. On an annual basis however, average prices have risen by 4.2%, taking the average value of a property in the UK to £224,144.
The property market, and particularly property sales, has remained relatively subdued over the past twelve months, one sector of the market that has seen an increase in activity is sales of high-end properties.