• As millions of Brits head off on their summer holidays, 50% are expected to take a ‘staycation’, choosing to remain in the UK to take their main summer holiday and enjoying the wonderful scenery and hopefully beautiful weather.
• Brexit concerns, the heatwave of 2018, exchange rates and even rising levels of dog ownership, particularly among families, have all increased the popularity of staycations. Sykes Holiday Cottages report a 36% rise in bookings in 2018 alone. It is no surprise that holiday homes have also become a popular investment choice.
• Owning a holiday home can offer a welcome retreat to escape to while also providing strong returns. With more favourable tax benefits than buy-to-let properties, buying a holiday home to let out can be an attractive and lucrative investment choice. It has been estimated that one in ten Brits now owns a second or holiday home.
• Sykes Holiday Cottages estimate that the average annual income from a holiday home is £20,000 per annum, up from £18,000 in 2017. Properties in Cumbria earn the most with Cornwall in second place. Meanwhile, holiday makers will pay a premium for certain features with hot tubs proving the most lucrative.