Whitby - Being Destroyed by 2nd Home Owners

The cost of holidays in the UK is still inflated at the moment. I suspect that as the world comes out of the pandemic over the next year or two then demand will return to previous levels and there will be a correction. Also in terms of this country this is probably another "Brexit Bonus" with people who might previously have bought a villa in the Costas looking for property in the UK.
 
Happening all over the country in coastal towns. Stayed in Staithes a few weeks ago. Most of the small cottages have turned into holiday lets. The accents of the people who were resident in the Cod and around town were definitely not local. I can imagine how quiet it must get in winter and am not surprised to hear local schools pupil rates are dropping alarmingly.
 
The problem is that local people who own these houses will complain about their kids not being able to buy houses in the local area due to second home owners forcing up the prices by 300 - 400% BUT I do wonder what their reaction will be when they work out that any scheme that stops these people will mean that their house will be only worth 25 - 33% of its current value?
 
Its amazing how people people can pay £200k for a second home, but can't afford their gas bill.

Locals in Whitby can't afford £200k for a 2 bed home - a couple in their late 20s working full time will be earning £30k gross. There are supposed to be only 5 houses left in Robin Hoods Bay that are not holiday homes (below Victoria Hotel).

When I was at Whitby School - a lot of children came in on a coach, I bet its a mini bus now.
 
Trouble is we can't all go away in the Uk if there aren't places to stay, yet these economies rely on tourist trade and its what keeps their house prices high. I don't even think this is something that new, Whitby has been full of holiday lets for ages and all the big Victorian buildings are hotels / b&b's
 
junos_boots said:
The problem is that local people who own these houses will complain about their kids not being able to buy houses in the local area due to second home owners forcing up the prices by 300 - 400% BUT I do wonder what their reaction will be when they work out that any scheme that stops these people will mean that their house will be only worth 25 - 33% of its current value?
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Vicious circle. Rocketing property prices are not good. It’s a bubble and looks like it won’t be bursting soon because of lack of stock. Unless the Government take the draconian Welsh idea and start taxing these 2nd home owners and buy to let brigade then local communities will continue to be harmed at the expense of filling the pockets of these property owners.
 
Zoophonic said:
Vicious circle. Rocketing property prices are not good. It’s a bubble and looks like it won’t be bursting soon because of lack of stock. Unless the Government take the draconian Welsh idea and start taxing these 2nd home owners and buy to let brigade then local communities will continue to be harmed at the expense of filling the pockets of these property owners.
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I agree that something has to be done to try and help the younger generation and by extension places like Whitby itself, otherwise they will have to ship in all of their workers from other places as nobody will be able to afford to live there and work in the town.
 
At least in Whitby there are large estates on the outskirts of the town of modern(ish) houses that are unlikely to end up as holiday lets. I frequently rent a cottage in the centre of Whitby and frankly most of them are unsuitable as family homes. They are small, you can't park near them and they often have been optimised for holiday use by removing any storage but little laundry facilities for example.

I agree 2nd homes need taxing particularly if they are not being let out but just used as a two week per year bolt hole for the moneyed classes from SE England. Of course the Tories will never do that...
 
It would be so easy to resolve 2nd ownership through taxation but there's no will to do it from the Tories. 2nd home you pay 20 times the council tax easy peasy put the money into local government housing departments. It's not just 2nd home ownership which is the problem but the buy to let landlord culture in this country. Social housing needs to be taken out of these scummy private landlords hands we need to rebuild housing stock and it needs to owned and run by local authorities.
 
I never thought I’d say but does brexit(to a certain extent) also put people off buying properties abroad and moving them towards the U.K.

Like anything it always a number of factors. Brexit, carbon footprint awareness, pandemic reevaluation. All those will probably have an inpscg
 
GazC_MFC said:
I never thought I’d say but does brexit(to a certain extent) also put people off buying properties abroad and moving them towards the U.K.

Like anything it always a number of factors. Brexit, carbon footprint awareness, pandemic reevaluation. All those will probably have an inpscg
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Yes I believe so not that I would think these buyers have the carbon footprint in mind when they rocket up the M1 in their gas guzzlers for the weekend.
 
Are holiday lets better than second homes? Do small business rates offset council tax or are business rates 0% and therefore bringing no money into the local economy?

Obviously holiday lets themselves likely bring money into the local economy via pubs/ restaurants that perhaps locals would not contribute during the popular months of the year.

I think its fair to say most people cant afford to live where they want to, unless they benefit from a good inheritance, or are saving and heading into their midlife years at the present time.
 
I have a friend who owns two, he has made a fortune for years. I doubt the tax man knows about the second. Capital gains should be 80%.
 
My daughter and son in law live in Whitby. They are renting a house owned as a second home by their landlord. The landlord told my daughter she has six weeks to move as she was going to sell the house. Trying to find a house to buy was very difficult. Most houses in the estates that Mutley speaks off are actually owned as second homes. Prices quoted in the estate agents are minimum offers- My daughter offered the full asking price for one. The sellers solicitor contacted her a week later and informed that she still had time to place a final offer as others had already bid over the asking price. She declined- She has now found somewhere but has paid £10000 over the asking price. ( Only affordable due to Bank of mams and dads ). Both her and her partners have jobs in Whitby so moving outside the town is not an option.
 
Trug said:
My daughter and son in law live in Whitby. They are renting a house owned as a second home by their landlord. The landlord told my daughter she has six weeks to move as she was going to sell the house. Trying to find a house to buy was very difficult. Most houses in the estates that Mutley speaks off are actually owned as second homes. Prices quoted in the estate agents are minimum offers- My daughter offered the full asking price for one. The sellers solicitor contacted her a week later and informed that she still had time to place a final offer as others had already bid over the asking price. She declined- She has now found somewhere but has paid £10000 over the asking price. ( Only affordable due to Bank of mams and dads ). Both her and her partners have jobs in Whitby so moving outside the town is not an option.
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It's a good bank though, well done.

I think you can write that one off.
 
I live in Whitby and its getting beyond a joke, it is a minimum wage economy reliant on tourism but the house prices are ridiculous. My mate has just sold a 3 bed semi for £460,000 and there is a small 3 bed terrace holiday let for sale at £485,000, my kids have no chance of buying anything here even one bed flats are £150,000 plus and rents for a flat are about £600 and 3 bed houses pushing a grand.
 
Muttley said:
At least in Whitby there are large estates on the outskirts of the town of modern(ish) houses that are unlikely to end up as holiday lets. I frequently rent a cottage in the centre of Whitby and frankly most of them are unsuitable as family homes. They are small, you can't park near them and they often have been optimised for holiday use by removing any storage but little laundry facilities for example.

I agree 2nd homes need taxing particularly if they are not being let out but just used as a two week per year bolt hole for the moneyed classes from SE England. Of course the Tories will never do that...
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cant afford the houses on the outskirts either on a minimum wage ! you would be surprised how many are second homes or are bought then privately rented at huge expense
 
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