Letting short-term? Here are the prime locations to invest
Letting a home to the holiday market can be lucrative, especially in popular staycation destinations.
A recent analysis found that short-term lets account for 7% of total homes across 15 of the nation’s tourist traps. *
Overall, the number of holiday lets has increased by 2.8% since 2019! This isn’t surprising considering the level of demand created by a reduction in the availability of foreign holidays during the pandemic. *
With chaotic scenes still unfolding in many of the UK’s airports and the rising cost of living putting off many from booking a trip aboard, the nation’s beauty spots, and traditional resorts look set to enjoy continued interest from holidaymakers.
Scarborough has seen the biggest hike in holiday lets – a rise of 2.3% since 2019. Ever-idyllic Cornwall still has the highest actual number of holiday properties, accounting for 7.4% of the total housing stock. At 6.1%, Dorset also remains extremely popular, with the number rising just above Cornwall (1.6% versus 1.2%). *
Of course, a high proportion of holiday lets in a single area can hurt the ability of local residents to find affordable homes to rent and buy, despite helping to boost the local economy by attracting tourists.
If this issue concerns you, letting your own home part-time or renting a separate property on your land could be a great way to earn extra income without impacting the ability of local workers who support tourist services to stay in the area.
If you’re planning to move to one of the popular spots we mentioned above, it may be worth considering properties that come with this potential. Whatever you choose to do, we’ve always got our ear to the ground for local properties that could suit your short-term letting goals.
Get in touch to learn more about how we can help you find or manage the perfect let.
*Property Reporter
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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