This popular seaside resort has been named as the most expensive for Brits hoping to buy a second home by the coast.

Research by Lloyds Bank revealed that Salcombe in Devon is the most expensive coastal location in the UK, where the average house price is £970,657, reports Money Week.

Salcombe is known for its stunning beaches, idyllic town and coastal views. 

One of the most popular places to see in the area is Hope Cove Beach. A visitor on Tripadvisor said: “A beautiful walk on the beach and Hope Cove itself has a lovely feel so makes for a pleasant few hours. There’s a pub here, a fish and chip outlet and places for ice cream so boxes ticked!”

The town is also home to a harbour which is a much loved part of Salcombe by both locals and tourists. 

One visitor on Tripadvisor said: “Salcombe is a very beautiful area, very scenic and tranquil atmosphere. We had a gorgeous Airbnb overlooking a beautiful setting and we were within walking distance to a lot of things. We enjoyed kayaking, surfing, some walking tour and lots of delicious sea food.”

The data by Lloyds Bank was compiled by tracking the house price movements of about 198 coastal locations in the UK. 

It found that the most expensive coastal locations in the UK were in the South West region. 

With an average price of £970,657, Salcombe in Devon is the most expensive location for coastal property for the second year in a row. This is actually down by almost a fifth on the average price for the area in 2022, when the average price was £1.2 million.

In second place is Sandbanks in Dorset, the average price tag here is £957,739.

The top 10 most expensive coastal locations in the UK are:

• Salcombe

• Sandbanks

• Padstow

• Lymington

• Dartmouth

• Wadebridge

• Lyme Regis

• St. Ives

• Budleigh Salterton

• Kingsbridge