Rise in popularity of the ‘staycation’ creates opportunities for BTL landlords

Added on April 16th, 2019 in Property News

The rise in popularity of holidaying in the UK or ‘staycation’ has led to a mini boom for the UK tourist industry.

With lots of events planned around the country, designed to encourage people to take a last minute break, this April bank holiday weekend looks set to be busy for hotels, restaurants and tourist attractions.

With staycations increasing in popularity, a new report by Sykes Holiday Cottages suggests that holiday home owners can expect their property to generate in the region of £20,000 in revenue, up from £18,000 the previous year.

Fresh research shows from Sykes Holiday Cottages shows that two-thirds – 66% – of Brits enjoyed a staycation last year, up from 56% in 2017.

Cumbria, Cornwall and Dorset have emerged as the most profitable places to own a holiday home, according to the latest Sykes Staycation Index.

Cumbrias was the most lucrative holiday hotspot last year, with a four-bedroom property generating average revenue of £28,000 a year, followed closely by Cornwall and Dorset.

The study found that home comforts are increasingly sought after by staycationers, with properties with WiFi making 16% more, and open fires boosting revenue by 14%.

The demand for dog-friendly accommodation is also on the rise, with properties where pets are welcome earning 11% more.

Graham Donoghue, CEO, Sykes Holiday Cottages, said, “The UK tourism industry is going from strength to strength – and it’s paying dividends for holiday property owners.

“With holiday let yields continuing to outpace residential buy-to-let growth, they’re becoming an increasingly attractive option to investors, in terms of low risk and high yielding assets.

“With a surge in demand for staycations, our cottages are generating more revenue than ever before. And with staycations set to soar further, there’s never been a better time to invest.” 

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