WHY LOCKDOWN COULD INCREASE DEMAND FOR HOMES IN SUNNY CLEETHORPES-ON-SEA

                                                                      

DEMAND for properties  in seaside towns such as Cleethorpes could surge in the wake of lockdown.

That's the belief of online estate agents Rightmove.

According to one of its executives, Miles Shipside, lockdown has given many home-hunters time to reassess what they want from their next move.

Says he: "The unusual circumstances have changed what a number of home-hunters are now looking for from their next home

"While some are looking for more space or a bigger garden, others are now contemplating a move to the seaside.

"Having the chance to look out your window to a sea view is something many home-hunters tell us is a dream of theirs. 

"This means that the properties that do offer this are able to charge a premium compared to those inland."

He continues: “Seaside towns in Great Britain have always had wildly different property prices, with some of the most expensive places to live outside London being in coastal areas like Sandbanks and Salcombe, while other coastal locations have prices of only £100,000. 

In the latest Rightmove charts, Cleethorpes fails to register

Whitby in North Yorkshire tops the list of the most in-demand coastal locations.

Why Whitby?

Nick Henderson, director of the town's Hendersons estate agents, says: “One of the great things about Whitby is that there’s usually something going on all year round - it’s not just when the sun is shining.

“Since we reopened a few weeks ago we’ve been selling bigger homes a lot more quickly than before.

"Families are changing the way they live and are swapping a ten minute commute into the office for a ten minute walk to the beach instead.

“Holiday homes have always been popular, often apartments or cottages that have been refurbished to an incredibly high spec.

"But there’s been a surge in recent weeks  as people choose to make an investment now, so they have somewhere for a staycation over the next few years instead of going abroad.”

Agents are reporting increased demand for holiday homes over the past month, and more families looking for a new lifestyle now they have realised that they can work from home.

Second in the table is Whitley Bay, in the North-east, which has asking prices of just over £260,000.

Comments Susan Usher, branch manager at Your Move's branch in the town: “The regeneration of Whitley Bay in recent years has brought people back who lived here in the past.

“It’s also very popular with younger families as they can send their children to outstanding schools and have beautiful beaches on their doorstep.

“Since the market reopened in mid-May we’ve had an increase in people looking to move here from York and the South, plus home-hunters considering an apartment that they can buy as a second home to holiday in.

“It’s been quite staggering the number of applicants we’ve had in recent weeks, with a number of properties going for above asking prices, both for luxury apartments and lovely Victorian homes.

There are three Cornish areas in the top ten: Padstow, Newquay and Bude. 

In Devon, Salcombe and Ilfracombe make the cut.

In Scotland, Ayr and Troon - the home to Royal Troon Golf Club - also make the list, along with Caister-on-Sea in Norfolk.

According to Rightmove, there is a difference of more than £1 million between the cheapest and most expensive coastal areas in the UK.

Sandbanks in Poole, Dorset, tops the pricey list with average asking prices of over £1.2 million, while Newbiggin-by-the-sea in Northumberland is the cheapest coastal location, with average asking prices of just over £100,000.

Exclusive seaside resorts of Sandbanks and Salcombe both have average asking prices slightly lower than this time last year, but still out of reach for most home-hunters.

Below: The Rightmove charts

10 of the most expensive seaside locations

1. Sandbanks, Poole (£1,243,364 average asking price)

2. Canford Cliffs, Poole (£1,011,466)

3. Salcombe, Devon (£730,213)

4. Aldeburgh, Suffolk (£570,831)

5. Milford On Sea, Hampshire (£565,408)

6. Padstow, Cornwall (£497,051)

7. Barton On Sea, Hampshire (£494,493)

8. Hove, East Sussex (£481,860)

9. Sandgate, Kent (£461,152)

10. Brighton, East Sussex (£416,635)

10 of the cheapest seaside locations

1. Newbiggin-by-the-sea, Northumberland (£109,888 average asking price)

2. Blackpool, Lancashire (£127,954)

3. Redcar, North Yorkshire (£135,917)

4. Whitehaven, Cumbria (£141,161)

5. Ayr, Ayrshire (£149,746)

6. Troon, Ayrshire (£165,386)

7. Scarborough, Yorkshire (£172,332)

8. Lowestoft, Suffolk (£197,377)

9. Barry, South Wales (£202,251)

10. Ilfracombe, Devon (£203,620)