Property trends for EX34

The average property price of £305,000 sits slightly below the national median, placing it in the middle of the national market. Over the past decade, prices have grown at 2.9% annually—a slower pace than the UK average—reflecting the more modest growth trajectory of this coastal and rural region. Transaction volumes have softened noticeably, with 231 sales in the latest year compared to a 10-year average of 328, suggesting a less active market than in previous years.

Average monthly rent of £964 is broadly in line with the national middle ground. Rental growth over the past decade has been 3.5% per year, which is below the national pace, though rents have still risen steadily. The flat yield currently stands at 4.4%, an improvement on the 10-year average of 3.9%, indicating that rental income is becoming a more attractive component of returns in this area.

Average household income of £35,100 is notably below the national average, placing the area in the lower third nationally. The price-to-income ratio of 9.5x has deteriorated since 2016 (when it was 8.7x), making properties somewhat less affordable relative to earnings. Rental affordability has improved slightly, with the rent-to-income ratio falling from 27.7% in 2016 to 27% today, though it remains elevated relative to incomes.

The population is distinctly older than average: over one-quarter (26.9%) are aged 65 and over, compared to 19.6% nationally, while those aged 16–24 are underrepresented at 8.4%. Outright home ownership is notably high at 42.2%, well above the national average of 33.7%, reflecting the prevalence of retirees and established residents. The employment profile is weighted towards skilled trades (15.8%) and caring roles (11.3%), both above national norms, while professional roles (13.8%) are below average.