Regional analysis reveals that the South West (76%), South East (51%), and Scotland (42%) boast the most substantial uplifts for waterside homes
New research has shown that the average premium for waterfront homes in the UK sits at 48%.
Regional analysis reveals that the South West (76%), South East (51%), and Scotland (42%) boast the most substantial uplifts for waterside homes.
The agency says that dropping stock levels have helped stabilise prices, with waterfront property listings dropping by 4% in the year to February 2024.
Recording a modest 2.7% decline in average prices, waterfront homes have showcased greater resilience compared to the wider UK property market, which experienced a 5.1% drop, highlighting their lasting appeal, says Knight Frank.
Demand for waterfront properties is also strong; viewings rose 25% in the year to early 2024 compared to the five-year average, (excluding 2020, due to the pandemic), while offers accepted climbed 12%.
Hamish Humfrey, Head of Waterfront at the agency, says: Properties nestled along rivers, lakes and coastlines continue to attract buyers with their unique charm. Our research confirms this sentiment, showing that waterfront homes in the UK command a significant premium of 48% over their inland counterparts.
It speaks volumes about the intrinsic value and appeal of living by the water’s edge. Despite market variations over the last year, waterfront properties have shown remarkable resilience, exhibiting greater price stability compared to the wider UK market, he says.
Notably, the South West and South East regions have seen heightened demand and notable price rise, he says.
In 2024, the global waterfront premium for waterfront properties across 17 global luxury residential markets stands at 49%, closely mirroring the UK’s 48%.
Miami leads the ranking with a 93% premium, driven by high demand for luxury homes in areas such as Miami Beach and Coral Gables, along with no state income taxes and limited prime beachfront availability.
This strong demand places the Americas at the top with 77% uplift for waterfront homes.
Europe’s Lake Como ranks second globally. The top five include the Bahamas (72%), Auckland (67%), and Barbados (65%). Globally, lakes (64%) and estuaries (62%) see the highest premiums, not unlike the UK’s preference for these properties.
