A property expert has unveiled a quaint seaside location which looks set to be overrun with holiday homes and Airbnbs as out-of-town buyers pounce on cheap house prices.
The town of Redcar, on the Yorkshire coast, has made headlines in recent years based on its dilapidated town centre, and rates of deprivation among children. But the up-and-coming area appears to be on the cusp of an economy boost.
That’s because its seaside boltholes come cheaper than most – with some properties just a couple of minute’s walk from the beach being listed for as little at £20,000. This is a fraction of one UK average that prices UK coastal homes at a whopping £304,460.
And one local estate agent in the bargain seaside town of Redcar, North Yorkshire, said that the properties are being snapped up – often by southerners keen to get a coastal home at a knock down price.
Jennifer Sanderson is the director of local estate agents Redcar Letting and Sales – and also a passionate Redcar woman who adores her hometown.
Her agency has one property on the market on Pierson Street just a stone’s throw from the beach front for £49,995 which has attracted a lot of interest. She said: “I have sold quite a number of flats in the area for a similar price.
“This property is quite central and a few minutes into the town centre.” She added that it was also “a two minute walk” to the beach and that she was “primarily looking for an investor to purchase it.”
Other properties on the market in Redcar close to the seafront include a flat on Coatham Road which is being auctioned off at a guide price of £20,000 and another in Coutham Court – on the same road – being auctioned off with a guide price of £29,950.
Explaining the special features which are drawing in the crowds, Ms Sanderson said: “Redcar is a nice seaside resort. There is a lot of investment coming from the south. One of the flats I sold, they were looking for a holiday home by the sea that was affordable.
“I think they can get a lot for their money at the moment. There is a lot of out of town investment coming in.”
Ms Sanderson said people should be quick to visit the town and see what’s on offer, with Redcar Beach bearing a claim to fame, appearing in the 2006 film Atonement.
It is also home to a quirky vertical pier – the 80 foot Redcar Beacon on the seafront, which offers 360 degree views of the area. And no mention of Redcar can go without name checking the dessert it’s most famous for – a lemon top ice cream.
The area suffered a major blow back in 2015, when Redcar Steelworks shut for good – closing a 170 year chapter and making 3,000 people unemployed.
But since then Teesworks – The UK’s largest freeport – has seen £200m investment on the site.
And the town looks like it’s certainly getting a glimmer of hope back.
Among the interest is the supposed-boom of Airbnbs, which are either well received or disliked by locals as they often see residential properties turned into overnight accommodation for holidaymakers.
It can be a bitter pill to swallow for areas where housing demand is increasing. But Ms Sanderson sees them as a positive step in Redcar’s rejuvenation.
She added: “[There are] a lot of Airbnbs – I sold a building on the seafront [that’s been converted to] Airbnbs and they are absolutely gorgeous.”
Jennifer is pragmatic about some of the challenges the town faces – but says that she’ll always be passionate about it. She said: “There is a high level of unemployment, salaries are low around here and there are some aspects of crime in certain areas.
“But it is a very friendly town, people always smile and say hello – there’s also a lot of regeneration. I am really passionate about Redcar.”
Andrew Parker, auctioneer and managing director at SDL Property Auctions, talked about the property on Coatham Road which has a guide price of between £15,000 and £20,000 that’s going under the hammer at the end of the month.
He said: “Coastal properties inevitably attract interest due to their favourable location, regardless of the type of property.
“We’ve sold a number of houses and flats by the sea in our auctions which have seen interest from bidders wishing to live in the property themselves, as well as those looking to run holiday homes. They’re a versatile option for all types of bidders and are often attractively priced which adds to their desirability.”
The ground floor one bedroomed apartment will be put onto a livestreamed auction and is located only a 10 minute walk from the beach.
He added: “We’re already receiving enquiries on this one and I’m looking forward to offering it on auction day on Thursday 29th February.”
