Property Market Update Redcar & Cleveland

Redcar & Cleveland continues to outperform the national market for sales.  Over the last 12 months, prices have increased by 3% vs the national average of 2%.

As you can see below the hottest areas are TS10 3, TS10 4 & TS10 5 for sales prices which are up 5% over the last 12 months, sellers here are seeing a pretty buoyant market.

These areas are also seeing large rent increases of 6.0% as well.

TS10 3:

In TS10 3 alone, over the last 3 months, we have seen a sales increase of 3.6%.  In terms of rent, we are also seeing an increase of 3.6% over the past 6 months.

Cypress Road TS10: This three-bedroom semi-detached house offers a great investment opportunity, with rental income rising from £525 pcm in 2022 to £825 pcm in 2024, a strong indication of increasing demand and rental growth in the area. Situated in a location where properties are valued around £135,000.

TS10 4:

Just in TS10 4, over the last 3 months, we are seeing a sales increase of 2.8%. In terms of rent, we are seeing an increase of 3.0% over the past 6 months.

Ayton Drive, TS10: This three-bedroom terraced house has shown impressive rental growth, increasing from £530 pcm in 2022 to £695 pcm in 2024. With property values in the area of around £90,000, this investment offers an attractive 9% yield, making it an excellent choice for investors seeking strong returns and growth potential in a high-demand rental market.

TS10 5:

Just in TS10 5, over the last 3 months, we are seeing an impressive sales increase of 3.9%. In terms of rent, we are seeing an increase of 4.1% over the past 6 months.

Britannia Place, TS10: This two-bedroom terraced house has demonstrated solid rental growth, increasing from £550 pcm in 2023 to £595 pcm in 2024. With property values in the area around £75,000, this investment yields an impressive 10%, offering excellent returns and appealing growth potential in a sought-after rental location.