This summer, UK holiday homeowners might earn up to £9,500 in ‘trending’ destinations.
In the United Kingdom, holiday home ownership is on the rise, coinciding with an increase in domestic staycations. As a result, experts predict a “dramatic increase” in property rental income in the following months.
Staycations in the UK are expected to have another successful summer, despite the seemingly ever-changing traffic light restrictions that govern international vacations. While this may imply a more expensive stay for vacationers, property owners are expected to receive a “dramatic increase” in income, according to a recent analysis.
According to the Sykes Staycation Index 2021, bookings for UK holiday lets will increase by 40% in 2021 compared to 2019.
It’s a boon for rental property owners who may have suffered as a result of earlier lockdowns.
Prior to the pandemic, the typical Sykes owner made £21,000 from their vacation let, but this figure is expected to skyrocket during the summer months.
Summer holiday let owners can expect to earn an average of £9,500 in July and August alone, according to the Index, a staggering 56 percent rise over the average summer revenue in 2019.
However, it appears that some locations are proving to be more popular than others.
According to Sykes’ booking numbers, the Peak District is the fastest-growing holiday attraction this summer for people deciding where to invest.
The hilly region is also known as “the most profitable destination” for holiday rental operators, with an average annual revenue of £27,000.
With an average yearly salary of £26,000, Cumbria was close behind as one of the “top-earning” regions.
These areas are also high on the list of popular summer vacation locations.
The survey also discovered that popular southwest sites were falling behind more northern destinations.
North Wales and Cumbria are now the two “most sought-after summer staycation places,” according to booking statistics, ahead of Cornwall, Devon, and Dorset.
Sykes has already noticed an uptick in buyers searching for a second property.
In 2021, new owner inquiries more than doubled over the previous two years, according to the holiday cottage supplier.
The staycation boom, according to Sykes’ experts, is anticipated to boost the UK economy by £30 billion this summer.
With the rise in domestic travel, it’s become clear that British vacationers have a sharp eye for certain types of properties.
They are said by three out of ten people. “Brinkwire News in Condensed Form.”