holiday lets

From a commercial perspective, Covid-19 has had devastating effects for many industries in the UK, such as hospitality and travel, which have been severely impacted by lockdown and travel restrictions. However, there have also been some industries that have massively profited from the pandemic.

Aside from the obvious uplift in PPE and pharmaceutical company revenues, tech companies offering remote working software such as Zoom and online shopping companies such as Amazon have enjoyed big profits.

Meanwhile, the property industry has been on a strange journey that not even the top experts could have predicted. The initial anticipation for a house price crash never materialised, with the introduction of stamp duty holidays contributing to an 8% year-on-year house price increase. Some buyers were able to save up to £15,000 in stamp duty, ensuring that the property market has stayed strong throughout the pandemic.

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How property investment has been affected by COVID-19

The pandemic has resulted in a variety of outcomes for different types of property investors. The tenant eviction ban resulted in many buy-to-let landlords losing rental income. The growing house prices have also made it more difficult to make profits from buying property to let it out, but the stamp duty holiday gave buyers a big window of opportunity to add new properties to their portfolio while avoiding paying the usual tax.

Holiday lets have become very lucrative investments

With foreign travel restrictions and health concerns over going abroad, the majority of British holidaymakers have been taking breaks in the UK, rather than missing out on their holidays. Areas such as the Lake District and Cornwall have seen a huge uplift in bookings and searches for accommodation throughout 2021, with some holiday rental companies experiencing more than a 40% increase in summer 2021 bookings.

Domestic holiday experts are predicting that this demand for UK staycations is here to stay, at least for the next 4-5 years, which opens up lucrative investment opportunities in holiday property rentals. As well as taking more bookings, many holiday accommodation owners and companies have increased their prices to maximise the opportunity they now have on their hands.

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Choosing the best holiday accommodation for letting

For people who are interested in cashing in on the UK staycation trend, there are plenty of lucrative opportunities. Which one is best for you will depend on a number of factors including how much capital you have, how soon you want to see the returns and how long you want to be tied to the investment. Another important consideration is how much effort there will be on your part, as some investments allow you to invest and take a back seat, while others will require a great amount of time and input.

Source: Property Investor Today

Summer holidays may be over, but that doesn’t mean trips are now off the table.

And it seems people are looking to stay a little closer to home over the coming months, as new research from Tripadvisor shows 62% of Brits are planning to travel in the UK this autumn.

Staycations have been on the rise since the pandemic began – with more and more people falling love with the beauty of the UK countryside.

However, individuals are now turning their attention to the hustle and bustle of UK cities – as busy spots around England, Wales, Ireland and Scotland dominate Tripadvisor’s list of top autumn destinations.

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Younger generations are particularly eager to book a UK staycation, as the travel site’s latest Travel Index shows that Gen Z are keen to travel in the next few months – with 36% saying they are planning three or more trips.

They also aren’t afraid to splash out on these breaks. Research shows a third of millennials (33%) and just over a third of Gen Z (37%) said they intend to spend more on their autumn trips than they did before the pandemic, in 2019.

So if you fancy a break over the coming weeks, these are the top UK staycation destinations for the season:

Cardiff, South Glamorgan, Wales

The Welsh capital city tops the list. The mix of old and new, from Cardiff Castle to the Wales Millennium Centre, makes for a lovely city skyline.

For those who love a hike, it’s also just an hour’s drive from the famous Four Waterfalls Valley

Belfast, County Antrim, Northern Ireland

From the bustling nightlife to its rich history, there’s a lot Belfast has to offer. It’s also a top choice for Game of Thrones fans – as the spot (along with other rural places in Northern Ireland) is where the hit TV show was filmed.

London, England

From top-notch restaurants and lively bars to beautiful parks and famous landmarks, there’s plenty to soak up in the capital city.

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Portrush, County Antrim, Northern Ireland

This little resort town on the Antrim Coast boasts breathtaking views. While Portrus may be known for its surfing centres and prestigious golf clubs in summer, there’s still plenty to explore in autumn.

Swansea, West Glamorgan, Wales

Another Welsh city places within the top 10. Swansea has everything from a historic market town to long stretches of sandy beach – both great for crisp autumnal strolls.

Glasgow, Lanarkshire, Scotland

Glasgow’s fascinating history makes it a great choice for a staycation – not to mention it’s filled with art galleries, live music venues and great pubs.

Newcastle-upon-Tyne, Tyne and Wear, England

Newcastle is known for its buzzing nightlife scene – but it also boasts a plethora of shopping and food options. So you won’t be short on things to do.

Tenby, Pembrokeshire, Wales

This harbour resort in south-west Wales is known for its 13th-century town walls and stretches of sandy shoreline – including Castle Beach.

Dundee, Angus, Scotland

Home to the only V&A museum outside London, Dundee is great for culture vultures. It also has incredible architecture and scenic views of the north-east coast.

Ayr, Ayrshire, Scotland

Another Scottish location makes it into the top 10. Ayr is a seaside resort best-known as being the birthplace of Robert Burns. Learn more in the museum dedicated to the poet or dip into more history at Culzean Castle.

By Lizzie Thomson

Source: Metro

A continued demand for staycations could see more than £9bn injected into the UK’s tourism economy.

Barclays estimated that, should a preference for UK holidays continue at the same rate in 2022, it would add up to £9.2bn to the domestic tourism market.

While many Brits will be eager to swap Cornwall for Portugal next summer, the relaxing of international travel rules does not mean staycations are a lost cause.

In its Leisure Rediscovered report, Barclays found that 45 per cent of consumers were more likely to opt for a UK holiday than before the pandemic.

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The Lake District, Scottish Highlands, and Dorset were among holidaymakers top destination choices in the country.

Less than one fifth (19%) of people surveyed were now more likely to go on holiday abroad, while 36% said their holiday preference has not been changed by the pandemic.

Barclays estimated that hospitality and leisure’s contribution to GDP would be £3.5bn higher between April and December than it was in 2019.

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Mike Saul, head of hospitality and leisure at Barclays Corporate Banking, said: “After a very difficult period for the hospitality sector, it is great to see how well the sector has bounced back. Our findings show an industry brimming with confidence and buoyed by surging revenues.”

On average Brits are going on three city breaks this year and spending on average £414 on a holiday, according to the 2021 Travelodge City Holiday Index.

Holidaymakers will spend £17.08 more than the 2020 city break average spend of £396.92, according to the hotel chain’s survey.

By Emily Hawkins

Source: City AM

Look no further than Cirencester and Bourton-on-the-Water for a stress free getaway this Autumn as these chilled spots top the list of relaxing UK staycation spots.

After the last 18 months, an entire global pandemic and with the kids back at school, we are overdue a stress-free getaway.

And Gloucestershire has delivered with Cirencester winning the number one spot and the tranquil Bourton-on-the-Water coming in second in PaulCamper’s Most Chilled Staycation Locations List.

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Researchers looked at a lot of different factors from the number of other tourists, green spaces, average rainfall and notably, Covid cases.

With strict and expensive restrictions making a holiday abroad difficult for many, PaulCamper wanted to help us find a holiday spot closer to home where we could escape the hustle and bustle of every day life.

Researchers analysed and ranked 55 locations for you so that you don’t have to!

We know why Cirencester and Bourton-on-the-Water have made the top ten but don’t take our word for it.

Here are some very calming things to do and explore on your doorstep.

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Things to do in Cirencester

Cirencester came out on top overall and we can’t say we’re surprised. This stunning town in the Cotswolds has an abundance of Roman history, green spaces and a charming town centre.

You can visit the Cotsworld Sculpture Park and the Corinium Museum to name just a few spots because relaxing doesn’t need to be boring.

Things to do in Bourton-on-the-Water

In our humble opinion, Bourton-on-the-Water is an equally perfect staycation spot.

This quaint village looks over the River Windrush and can be spotted by its iconic low bridges and traditional stone houses.

We couldn’t recommend visiting the Cotsworld motoring museum or Brewing company more.

By Rebecca Carey

Source: Stroud News

Short-term holiday lets are continuing to see a boom with the rise in UK staycations. Where are the best locations for holiday-let investments?

As there is still ongoing confusion revolving around international travel, the appetite for UK staycations is stronger than ever. And this summer is especially busy with a surging number of bookings.

A survey by Sykes Holiday Cottages revealed 60% of respondents suggested they will remain in the UK for the main summer break this year. After analysing booking figures, revenue data and consumer research, Sykes also highlighted a 40% uplift in holiday-let bookings throughout the summer 2021 school holidays when compared to 2019 figures.

Contact us today to speak with a specialist Holiday Let Broker to discuss how we can assist you

Strong returns for short-term holiday lets

Prior to the pandemic, holiday-let owners that let their property through Sykes earned an average annual income of £21,000. This is expected to increase dramatically with the rise in bookings.

Holiday-let owners are forecast to earn an average income of £9,500 throughout July and August this year. This is a whopping 56% rise on the average summer income from the same period in 2019.

With the potential to earn more, new investor enquiries for short-term holiday lets have more than doubled in 2021 compared to two years ago. Second homeowners and investors are seeing the benefits of holiday-let investments.

Graham Donoghue, CEO of Sykes Holiday Cottages, says: “The entire travel industry has undergone tremendous changes and disruptions over the past year, but the UK staycation market has fought back, with the appetite for holidays at home now stronger than ever.

“A stronger UK staycation market will likely remain a fixture for years to come, meaning the long-term revenue opportunities for those considering entering the market now could be substantial.”

Top locations to invest in holiday lets

Location is key with any property investment but especially with short-term holiday lets. Finding sought-after locations can help investors earn strong returns.

Currently, demand for holidays in and near national parks is particularly high. Recent research suggests that national parks in the UK could have an excess of 100m visitors this year. This is providing opportunities for investors looking to buy their first holiday let or to expand their portfolio.

Analysis by Sykes Holiday Cottages revealed the Peak District is the fastest-growing holiday hotspot this summer. It’s also the most lucrative destination for holiday-let investors with an average annual revenue of £27,000.

Cumbria and the Heart of England follow closely with an average annual income of £26,000 and £25,000 respectively. Both are high up on the list of top destinations for holiday bookings this summer as well.

Additional research by mortgage broker Norton Finance revealed Snowdonia National Park and the Lake District as the top investment opportunities. The broker created a formula, which combined property prices, average monthly rental prices, gross rental yields and Google search data.

Featuring glacial lakes, rugged mountains and peaks and strong literary connections, the Lake District in Cumbria is seeing the highest average monthly search volume with 368,000. Demand is expected to remain high for short-term rentals in the Lake District in the coming months and years.

By Kaylene Isherwood

Source: Buy Association

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