The COVID pandemic has seen a surge in people looking to live by the seaside, according to a new Daft report.
The property website’s Coastal Report 2021 finds that the average price of a three-bed home by the sea has risen by 23% since the pandemic began.
The biggest increases were reported in Lahinch in County Clare and Kilmore Quay in County Wexford.
The national increase over the same period was just 8.7%.
NUIG Environmental Economist and report author Dr Tom Gillespie said there is now a clear trend.
“We are seeing a big upward trend in coastal properties,” he said. “Properties that close to the coast and are in high amenity areas with a lot of holiday homes, we are definitely seeing since the start of the pandemic they have gone up about 23% in value.
“That compares to just an 8.7% national trend so they are definitely going up beyond what the national trend is since the start of the pandemic.”
He said the pandemic has changed people’s priorities.
“There is a renewed interest in the sea and sea swimming and surfing,” he said.
“We have had two staycation summers; we have had increased savings and remote working has changed the trade-off between having to live close to jobs and having to live close to nature.
“So, you see a lot of people that are relocating from cities to coastal areas and locals that grew up in these coastal areas are returning to the cities.”
Daft compared prices on nearly 120,000 properties on its website between January 2019 and April 2020 for the report.
The findings are based on asking prices but the website believes the growth in transaction prices has been the same or greater.
It said the seaside dream is also evident in website searches and the stated preferences of people on the hunt for new homes.
The latest Daft Sentiment Survey found that 9% of people had changed their minds from wanting to live in a city and were now searching for a seaside home.