8:11am Monday 26th May 2008
By Matt Smith
MILFORD-on-Sea has retained its position as the third most expensive seaside town in the country despite its house prices climbing more slowly than many coastal rivals.
Average property values in the New Forest town are now £351,859, higher than nearby Christchurch (£285,287) but way behind Sandbanks in Dorset (£628,014), which topped the survey by Halifax Estate Agents.
Residents say clean beaches, fantastic views, community sprit and old world charm are the reasons why it has established itself as one of the most sought after places on the south coast, despite its image as a retirement haven.
But while houses prices in Sandbanks - home of ex Saints and current Pompey manger Harry Redknapp - have climbed by 22 per cent in the past year, in Milford-on-Sea they have risen by just eight per cent, leaving it outside the top 25 best performing seaside towns in the annual survey.
Gordon Edwards, managing director of Halifax Estate Agents, said while some seaside homes had doubled in value over the past five years he predicted some to fall.
He said: "We now expect some decline in property prices in seaside towns. Whilst they are not immune to wider market developments, they will continue to be a premium for coastal properties as people will always like to live by the seaside."
© Copyright 2001-2010 Newsquest Media Group
http://www.thisishampshire.net