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Evening Standard
Evening Standard
Vicky Shaw

Seaside homes ‘take three weeks longer to sell on average than during pandemic’

Homes located near the sea are now taking three weeks longer to sell on average than they did during the “race for space” fuelled by the coronavirus pandemic, according to a property website.

Rightmove said the speed at which homes in coastal areas are finding buyers has slowed, from an average time of 52 days in 2021 to 73 days in 2025 – a difference of 21 days, or three weeks.

A report from the website looked at how some trends seen during the pandemic have changed.

More flexible working patterns and a general reassessment of living priorities during the pandemic helped to fuel a surge in popularity for areas by the coast and countryside.

Across a sample of more than 100 coastal areas across Britain, the average asking price for a home near the sea increased by 4.5% annually in March 2021, nearly double the 2.7% yearly growth seen across the whole of Britain over the same period, as demand rose.

Now, in 2025, average asking prices have risen by 1% across coastal areas compared with last year, in line with the rest of Britain, Rightmove said.

The website has also seen changing trends in London.

In March 2021, less than half (47%) of potential home-buyers in London were looking to stay in the capital, versus 59% the year before, Rightmove said.

But London is once again the most searched-for location on Rightmove, and its data indicates the majority (58%) of would-be movers living there are looking to remain in the capital.

The data was based on inquiries made by people based in London via Rightmove to estate agents.

In March 2021, Cornwall overtook London as the most searched-for area on Rightmove, but now London is once again the most searched-for location, the website said.

Looking across Britain, first-time buyers may find they have more “borrowing power” than they did five years ago, the website said.

Since March 2020, the average asking price for a typical first home has increased by 17%, from £195,463 to £227,965.

Meanwhile, over the past five years, average wages have grown at a faster rate, at 30%, Rightmove said.

However, potential first-time buyers may also face bigger hurdles to raise a deposit.

Average rents have jumped by 42% over the past five years, making finances more challenging for renters, including those who are trying to save up to buy a home.

The average five-year fixed mortgage rate is 4.73%, more than double the 2.15% it was five years ago, according to Rightmove’s data.

Over the past five years, semi-detached homes have risen the most in terms of their price tag (by 23% on average), compared with a smaller increase for flats (by 7% on average), suggesting there is still a premium for having more space, the website said.

The top keyword in buyer searches on Rightmove is still “garage”, the same as it was in March 2020.

In the rental market, “pets” is still the most popular search keyword on Rightmove, as it was in March 2020.

Searches for rental properties with “bills included” have dropped out of the top five most common searches on Rightmove.

In 2022 such searches topped the list, as households grappled with living cost shocks.

Steve Pimblett, Rightmove’s chief data officer, said: “Five years on from the pandemic, many short-term trends brought about by the unique circumstances of lockdown have reversed.

“Coastal homes are taking longer to find buyers and price growth has stabilised as more supply has come on to the market, some likely from movers heading back to the city.

“At the same time, fewer people are looking to escape cities, as life has returned to normal, and the debate continues about remote versus office working.”

Nathan Emerson, chief executive at property professionals’ body Propertymark, said: “Directly following the pandemic, many people saw the home working revolution as a potential opportunity to pursue a new or different lifestyle, often away from traditional town and city centres, as there was little need to be present within a physical office location five days a week.

“As time has progressed, substantial numbers of employers are now starting to ask their employees to make a return to centralised office locations, thus reversing the trend of five years ago for many people, and they are choosing metropolitan areas once again, where there are likely better transport links and a more competitive jobs market in many cases.”

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