Aldeburgh has been ranked as the third most expensive seaside town in the UK, according to a new report.  

The coastal town was the only Suffolk entry in the Halifax top 10 list with an average house price of £794,492.

The data reveals that Aldeburgh has seen a 98% increase in property prices between 2012 and 2022. 

Salcombe in Devon was named the most expensive seaside town in the UK with an average house price of £1,244,025. 

Experts said coastal property values have been boosted by the switch to home working during the coronavirus pandemic - which has seen many people move away from cities in the past two years.

Last year, Aldeburgh was ranked the fifth most expensive seaside town with an average house price at £514,444. 

Aldeburgh has also been named as one of the best coastal towns in the UK by a series of magazines and other titles.

The seaside property hotspot was named the seventh best coastal town in the UK by consumer choice company Which?

Kim Kinnaird, mortgages director at Halifax, said: “For many, owning a home by the sea is an aspiration, with coastal living offering beach walks, clean air and other health benefits.

“When we delve deeper into the cost of Britain’s seaside homes, it’s clear that there is a broad spectrum in house prices.

“Second home ownership undoubtedly plays a role in driving up prices in the most desirable locations. While house prices in any location are driven by factors such as supply and demand and interest rates, there are also socio-economic factors at play.

“Some of these factors are more acute in Britain’s coastal communities, and many British towns most in need of investment also sit near the shore.”