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More Brits invest in holiday homes across UK

Brits are investing in their own staycation spaces at a record-breaking pace, ahead of the autumn and winter months, according to holiday home operator Park Leisure.

YouGov data shows that over three quarters of Brits (77%) have no intention of travelling abroad this year. In fact, 43% say they intend to take more or the same number of UK trips than they usually would.

As British holidaymakers increasingly seek UK getaways and look for a long-term solution, Park Leisure has reported a staggering 47% year-on-year increase in holiday home sales this summer across its 11 locations.

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Lisa Williams, director of marketing and holiday sales at Park Leisure, said: “It goes without saying that this year has been completely unpredictable and there were challenges to overcome to make sure we were able to welcome holiday home owners and holiday makers to our parks safely and comfortably.

“Alongside the benefit of avoiding international travel regulations, our holiday homes are completely self-contained with everything you need for your prefect break. Staying in our holiday homes mean any unnecessary social interaction is avoided and our guests can cocoon themselves in their own little sanctuary or explore the beautiful great outdoors!

“We have, of course, redesigned our processes to keep people safe, as well as introducing hand sanitising facilities and regular signage displaying the guidelines and best practice, alongside a host of other measures to give holiday home owners and holidaymakers peace of mind.”

Of all the locations, Littondale (pictured), based in the Yorkshire Dales, has seen the biggest increase, taking a huge 91% more bookings this summer (June – August) compared to the same period last year.

WRITTEN BY RYAN BEMBRIDGE

Source: Property Wire

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UK holiday lets soar in demand from travellers and investors

UK holiday homeowners are seeing a significant rise in demand from travellers and investors as nationwide lockdowns start to ease.

According to holiday rentals search engine Holidu, bookings in the UK are up 156 per cent on the previous year, and investors are seeking to capitalise.

Inquiries on holiday homes have surged by up to 300 per cent in various hotspots, as staycations are on the rise. Rural areas in particular are seeing significant boosts as they have gotten the most interest from holidaymakers.

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East Devon and St. Ives in Cornwall have seen 263 and 262 per cent rises in bookings respectively, while South Lakeland has seen a 258 per cent increase. Analysts expect these are not limited to bookings, but occupancies as well, with a consistent 10 per cent rise, implying larger profit margins.

For investors, the market makes a strong alternative to the potential buy-to-let market, which has struggled as a result of the pandemic. Holiday home properties also have the potential to offer higher yields, lower taxes, and may tap into the growing trend of staycations.

Simon Foster of Savills told The Telegraph: “There was a growing trend for domestic tourism anyway before coronavirus – partly because of Brexit, and partly because of people’s environmental concerns about flying. This is more than a passing fad.”

Certain lenders who had previously offered short-term let mortgages, such as Swansea Building Society and the Furness Building Society, initially withdrew from the market after the pandemic. Though many lenders have returned, the requirements and prior savings amounts have become stricter.

Furthermore, many urban areas have not seen such a resurgence. London and Edinburgh, the UK’s two most-booked city break destinations, have seen landlords shift properties to traditional lets as the market contracts.

Short-term rental operators, mostly those in rural, non-urban locations, are optimistic about future bookings as lockdown loosens. Further adding to the optimism is the potential elimination of travel quarantines for most of Europe, potentially re-building the UK’s international travel.

By Miles Hurley

Source: STRZ

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Wales and Cornwall are most popular UK holiday home locations

Wales is the top holiday home location in the UK for 2020/21, research from holiday home insurance company Schofields Ltd has revealed.

Some 15.35% of UK holiday homes are located in the UK, followed by Cornwall (12.82%), Scotland (9.30%), Devon (8.39%) and North Yorkshire (8.13%).

Renewed holiday home contracts were also compared to new contracts taken out between January and June 2020, to calculate the top up and coming locations.

County Durham came top of this list, with a 36% increase in the number of contracts, followed by Wiltshire (36%), East Yorkshire (35%), Cumbria (35%), and Suffolk (28%).

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Phil Schofield, head of inbound marketing, said: “Getting away from home safely once restrictions have been lifted is something that’s on everyone’s minds.

“Holiday homes and holiday cottages are top of people’s lists due to their privacy and ease.

“Data suggests that people in the UK take breaks of 2-3 days more frequently than any other length of holiday, so being able to make a short journey with less stress to a holiday cottage or holiday home is really important.

“The top locations for holiday homes in 2020 aren’t a surprise to us, but the up and coming locations are interesting.

“It seems that people are wanting to find destinations that are off the usual beaten track in the UK and won’t be quite so crowded as the hotspots.

“Hopefully our data will help tourists choose destinations for short breaks in the UK where they can easily find holiday cottage accommodation but will have plenty to see and do.”

BY RYAN BEMBRIDGE

Source: Property Wire