Waterfront property in UK can see a price premium of up to 81%, new research reveals
Waterfront properties in the UK have always been popular and now new research shows that the very best are priced as much as 81% higher than comparable inland homes.
Living by the water, whether it is a country house by a river, a one bedroom flat by the sea or a cottage next to a loch, is the ultimate lifestyle choice, according to the latest prime waterfront index from real estate firm Knight Frank.
And it is not just British buyers competing for the very best, there is always demand from overseas buyers, with 55% of international searches coming from Europe, and 26% from North America.
The report points out that the UK has a wide variety of waterfront locations that appeals to a diverse collection of buyers and a clear premium is paid by buyers for homes in close proximity to water. ‘For a number of purchasers it’s the ultimate lifestyle choice. Waterfront property is very niche and very desirable, often in a market of its own and that helps to underpin values,’ said Christopher Bailey, head of national waterfront at Knight Frank.
An analysis of valuations from Knight Frank’s experts across the country shows that prices for prime waterfront properties are as much as 81% higher than comparable inland properties.
The index measures the potential value uplift for prime homes on the water’s edge, or within close proximity to water, compared with similar properties located further inland.
‘The diverse nature of waterfront property across the UK attracts a real melting pot of buyers from all walks and at all stages of life, whether they be upsizers, downsizers or simply those looking for a lifestyle change. International buyers also form an important, part of the market,’ Bailey pointed out.
‘The appeal really is global. Our web search data shows that individuals from all over the world searched for prime waterfront property in the UK last year, led by potential buyers in the US, Germany, France and Spain,’ Bailey said.
He explained that a weaker pound following the European Union referendum has also benefitted non-sterling denominated purchasers, with Knight Frank figures showing a notable increase in the volume of expats buying waterfront property in 2016/2017 compared with the previous year.
‘In most cases the view is more important to buyers than the property itself. You can alter the property, but you can’t alter the outlook. The most important aspect to understand from a buyer’s perspective is the lifestyle they are looking for and how that can be matched to the property they will buy,’ added Bailey.
The maritime economy
Liverpool is the only deep sea port on the UK’s west coast, recognised by government and industry as vital to its Northern Powerhouse programme. If the country joins NAFTA on its exit from the EU then, as the dominant port in North American trade, Liverpool’s maritime economy will enjoy further rapid growth.
Liverpool Clipper 2017 – 2018 Worlds Yacht Race Festival
Liverpool’s newest international destination campaign, Liverpool 2018, is pleased to enter a team in the Clipper 2017-18 Round the World Yacht Race.
The city’s team entry and Start and Finish Partner status marks the tenth anniversary of the city’s game-changing tenure as European Capital of Culture, which will see preparations for another year under the international spotlight.
The Liverpool 2018 campaign aims to attract audiences of millions of people, create significant economic impact and push Liverpool to the top of the ‘must-visit’ cities in 2018.
“We’re delighted to be a Clipper Race Team Partner – not only are we part of the action, but it means that, once again, Liverpool is going to be seen across the globe by millions of people.” said Joe Anderson, Mayor of Liverpool.
World renowned for staging unmissable and unforgettable events, the city of Liverpool is planning for another impactful year in the spotlight. Expect boundaries to be pushed, audiences to be delighted and communities to come together to share in an incredible cultural journey transcending the worlds of the arts, fashion, business and sport.
To celebrate Clipper Round the World Yacht Race finishing in Liverpool this July, there will be a programme of multi-cultural arts performances and craft activities throughout the weekend at the Royal Albert Dock.
One of the biggest round the world yacht races will return to the city on Saturday 28 July with a sprint finish which will determine the sought-after podium places for one of the toughest endurance challenges on the planet.
The dramatic climax will take place on the River Mersey, in front of the Royal Albert Dock Liverpool, from 10am, and once all the team yachts have crossed the finish line, they’ll take part in a magnificent parade of sail along the River.
It will include Liverpool’s very own yacht Liverpool 2018 which, thanks to its eye-catching pink design, has been making waves at each port it has visited around the world.
Thousands are expected to head to the waterfront to watch the impressive sight, culminating in the fleet berthing at the Royal Albert Dock Liverpool. The action will then continue on dry land as hundreds of people who make up the crews will take part in a colourful, noisy parade to the Pier Head where the official prize giving ceremony will take place.
To celebrate the return of the Clipper Round the World Yacht Race, there will be a programme of performances and activities taking place at the Royal Albert Dock Liverpool from midday to 6pm on Saturday 28 and midday to 5pm on Sunday 29 July.
It will feature local arts organisations which represent Liverpool and the other port cities and countries visited by the yachts since they set sail on 20 August last year. There will be performances from Katumba South American drum ensemble, One Latin Culture musicians and Pagoda Chinese Youth Orchestra and dancers. This will be a remarkable infusion of diverse communities of Liverpool with the port cities and countries visited by the Clipper Race fleet.
Liverpool 2018 will promote the city as one of Europe’s leading visitor destinations.
The Clipper Race is one of the biggest challenges of the natural world and an endurance test like no other.
With no previous sailing experience necessary, it’s a record breaking 40,000 nautical mile race around the world on a 70-foot ocean racing yacht which takes 11 months to complete.
The brainchild of Sir Robin Knox-Johnston, the first person to sail solo non-stop around the world, the event is now on its eleventh edition, with the twelfth edition starting in 2019-20.
Normally the domain of seasoned pros, this supreme challenge is taken on by ordinary, everyday people. Having completed a rigorous training course, participants are suited and booted in the latest extreme protection gear to commence the race of their lives – an unparalleled challenge where taxi drivers rub shoulders with chief executives, vicars mix with housewives, students work alongside bankers, and engineers team up with rugby players.
The sea does not distinguish between Olympians or novices. There is nowhere to hide – if Mother Nature throws down the gauntlet, you must be ready to face the same challenges as the pro racer. Navigate the Doldrums en route to South America, endure epic Southern Ocean storms, experience South African sunsets, face the mountainous seas of the North Pacific – and bond with an international crew creating lifelong memories before returning victorious.
Applications are now open for the 2019-20 edition of the Clipper Round the World Yacht Race. Seize the moment, unleash the adventure.
The tourism economy
Liverpool is in the top 3 UK cities for brand recognition amongst overseas visitors thanks to The Beatles, Titanic and its globally-successful soccer club – all of which fuel a thriving tourism industry that has driven a construction and employment boom in new hotels, restaurants, bars and visitor attractions.
The science economy
More than 10,000 highly skilled and well-paid people work in the life sciences sector in Liverpool, generating £1.7bn a year in economic output. The city hums with the output of research establishments, many for global giants such as Astra Zeneca, Seqirus, Eli Lilly and Actavis, and £2bn of investment is now committed to growing the sector.
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