The firm said the winning combination of a boom in UK holidays this year and a Town Fund grant of £17m has meant that Whitby is now the go-to coastal resort in the North of England.

Nick Henderson, founder and managing director of Whitby-based Hendersons Estate Agents, said that the future has never looked so bright for his hometown.

“Once upon a time, Whitby was regarded as one of the least desirable towns in US, a run-down, neglected unemployment blackspot,” he said.

“Its recent renaissance is absolutely remarkable, with investment pouring in and the town centre a sparkling mix of great restaurants, unique independent retailers and a wonderful sense of atmosphere and history.

“The investment opportunities in holiday cottages and buy-to-let properties are mouth-watering. Whitby has never had it so good.”

He gave the example of the Spa Well Court development, which is a couple of minutes’ walk from the town centre.

“The yields on the remaining five properties at Spa Well Court are exceptional. Based on an annual rental, the return would be 8.94 per cent or £22,000. The four-year yield would increase to 12.1 per cent. As Whitby’s popularity increases, so would these yields,” said Mr Henderson.

He said that the havoc wrought by Covid-19 means that overseas travel is not seen as an option by many people for the foreseeable future.

“The idea of a British holiday home at Whitby on US’s majestic East Coast has become extremely attractive,” he added.

“Whitby is becoming increasingly popular across the country. Its reputation as one of the hottest holiday destinations in the UK has never been higher, fuelled not only by the unique beauty of the town and the surrounding countryside, but also by the quality of its retail and leisure offering with outstanding shops and restaurants.

“The town has just been named the most in-demand seaside location in the whole of the UK by Rightmove, based on research into how many people were inquiring about new homes by the sea.”