An increase in demand for UK accommodation inspired a 33 per cent uplift in the average annual income generated by a holiday home last year.
According to Sykes Holiday Cottages, which analysed its income data, holiday homeowners earned nearly £28,000 annually, on average, per property in 2021 against almost £21,000 in 2019.
Sykes has also revealed the top earning locations for holiday homeowners this year, with Dorset, the Cotswolds and the Peak District taking the top three spots, and Devon and Somerset rounding out the top five.
Based on the average income figures for a four-bedroom holiday let, those in Dorset earn nearly £36,000 per year. And four-bed properties in the Cotswolds and the Peak District generate just over £35,000 and almost £34,000, respectively.
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The income uplift can be attributed to a 35 per cent increase in occupancy levels in 2021, compared with 2019, as many Brits shunned foreign holidays due to travel restrictions and ongoing uncertainty.
The Lake District achieved the highest overall occupancy (80 per cent), closely followed by Northumberland, the Peak District, Southern Scotland and the North York Moors, which were all above 78 per cent.
Bev Dumbleton, chief operating officer at Sykes Holiday Cottages, said: “2021 was certainly the year of the staycation, as we saw the strong demand for UK-based accommodation culminate in record occupancy rates and a significant boost in average yearly income.
“With the interest in holidays closer to home likely to remain a fixture for years to come, those considering investing in a holiday home in 2022 could see great success – particularly if they choose a location which has proven fruitful for those already in the market this year.”
By Brett Gibbons
Source: Wales Online
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