Reports indicate that owners of second homes are selling their properties in a charming coastal town in the UK that attracts both tourists and fans of the TV show Beyond Paradise.
While the return of full-time residents to properties that were previously vacant for extended periods is being celebrated, there are concerns. A local real estate agent has cautioned that first-time buyers are still being priced out, forcing some residents to live in tents or rely on temporary accommodations.
The surge in property prices in the picturesque town is attributed to affluent individuals from London relocating to enjoy the tranquility of the coastal setting.
Looe, situated in Cornwall, is familiar to many as the fictional town of Shipton Abbot from the TV series Death in Paradise. The presence of second homes and holiday rentals in this scenic region has sparked controversy among some residents.
While acknowledging the importance of tourism, some residents express unease about the impact of second homes. Sara Barron, involved with a community center in Looe, emphasizes the necessity of tourism but notes the challenges posed by vacant second homes for most of the year.
The issue of unaffordable housing in Looe is exacerbated by restrictions on residential lettings, with Airbnb properties facing fewer limitations, making them more appealing for holiday rentals.
According to Sara, the situation has led to a rise in “hidden homelessness,” where individuals resort to sofa-surfing, camping, or living in vans due to the lack of affordable housing options.
While some locals express concerns about the impact of second homes on the housing market, others like Sam Chapman, a longtime resident and business owner in Looe, mention that they have not personally felt the negative effects of the property market shifts.
Clive Gardner, another resident, highlights the challenges faced by businesses in hiring staff due to the housing shortage, despite the strong sense of community in Looe.
Residents in the old town area of Looe share stories of how the community has changed over the years, with many long-time residents moving away, leading to shifts in the local housing landscape.
The local property market, with average house prices fluctuating, presents challenges for both buyers and renters, with limited options available for locals seeking affordable accommodation.
Local businesses and residents express a mix of perspectives on the impact of second homes on the community, highlighting the need for a balance to ensure the sustainability of the town.
The evolving property market dynamics in Looe reflect broader challenges faced by local residents in accessing affordable housing, with concerns raised about the lack of support for landlords and the difficulties in finding suitable rental properties.
Efforts to address the housing crisis in Looe are complicated by infrastructure limitations and a shortage of available properties, posing significant challenges for both residents and policymakers.
The complex interplay between tourism, second homes, and local housing needs underscores the ongoing debate surrounding the future development and sustainability of communities like Looe.
