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Seaside resorts boosted by cheap mortgage offers

Date: Tue, 30 May 2006

Seaside towns in Wales are benefiting from a strong housing market as more homebuyers step up the property ladder.

New figures from Halifax reveal that Porthcawl and Caernarfon are the best performing seaside towns in Wales as demand remains high following continued regeneration in the region.

However, anyone planning to move to the area will need to shop around for an affordable and cheap mortgage deal, as property prices have more than doubled. Over the past four years, the towns have seen a 100 per cent rise, with the average house price in Porthcawl reaching £202,614 and £132,812 in Caernarfon.

Colin Kemp, managing director of Halifax Estate Agents, said: "More and more home buyers in Wales want to own a piece of the seaside and this has meant that seaside towns have seen some of the strongest house price rises in the country over the past three years.

"Firm demand for second homes has clearly been a factor pushing up prices near the sea but regeneration efforts in seaside towns has also been a positive for house prices in these areas."


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