We'll wave goodbye to £20,000 for ocean view

House-hunters are willing to pay on average an extra £20,448 to live by the seaside, a study has revealed.

Being close to family topped the list of factors enticing buyers to pay a premium for their perfect property, according to the poll of 2,031 people.

Almost a quarter (24 per cent) of home buyers, said it was a priority and were willing to pay on average 13,005 for being close to loved ones.

Location was more important for men than women, with males prepared to pay on average an extra 15,860 for a home in the right position, compared to 13,605 for women, the Post Office Mortgages Homebuyers Report found.

Outside space was also an important feature, with 24 per cent of buyers prepared to pay on average an extra 10,043 to secure a garden or roof terrace. A fifth were also prepared to pay an extra 11,931 to move into a house which required no DIY improvements.

Post Office director of personal lending, Marco Hughes, said: "Our report shows that when it comes to location, homeowners are certainly prepared to shell out for an ocean view.

"The right location is particularly important to over-35s looking to put down long-term roots and bring up families, whereas younger buyers appear more willing to compromise on the location or features of the property in their desire to get on the ladder."