FYLDE home-owners are raking in the cash on the back of the latest UK trend to buck the city lifestyle for a place beside the seaside.

A new survey by leading estate and mortgage agents, Halifax, shows that house prices in the area have soared by 40 per cent, proving that more people are opting to live by the sea.

According the research both Lytham St Annes and Fleetwood have seen 32 per cent rises in the past two years, all above the regional average of 31 per cent and national average of 28 per cent.

The only North West areas with better records are Southport, where prices have risen by 44 per cent and the historic city of Lancaster, with a 42 per cent rise.

Jane Pridgeon, managing director of Halifax Estate Agents, which carried out the survey, said: "A home by the sea is a dream for many people and it could also prove to be a good financial investment.

"The majority of seaside towns are now performing very well against the rest of their region."

Fylde-based estate agency entrepreneur, Kevin Allitt, has spent 24 years selling and managing properties across the UK.

His business, Allitt Estate Agency -- established in 1990 -- currently handles more than 500 properties around the Fylde coast and he says that house prices are "exceptionally high".

Kevin said: "In recent years we've noticed that the area's house prices have been exceptionally high but are still a lot cheaper than homes in other parts of the UK.

"There seem to be a wide variety of people of all ages and backgrounds opting to move to the coast to escape the rat race in built-up areas, especially from places like London.

"A lot of our customers are looking to either buy a second home or buy to let on the Fylde coast but we also get a large amount of first time buyers who are being out-priced in their native regions.

"They find that the Fylde is a fantastic place to make a start on the property ladder and improve their quality of life.

"As a result are snapping up properties which has a knock-on effect on house values."

Another recent study -- Shifting Sands -- by the Commission for Architecture and the Built Environment (CABE) shows that local regeneration schemes, such as the Blackpool Masterplan, are doing their bit to boost the areas house prices.

The report -- which was produced in conjunction with English Heritage -- claims that the re-invention and development of existing traditional seaside areas are helping to attract new buyers.

Kevin said: "Projects like the Masterplan are crucial to the regions housing boom.

"Along with EU funding and increasing media coverage they are helping to raise awareness of the vast potential of seaside areas."