According to Council-provided figures, the UK has seen quite a substantial rise in holiday lets across the country in the past three years. According to figures provided by local councils, the UK has seen a 40% rise in the number of holiday lets between 2018 and 2021, with the figures only set to keep growing. With both popular tourist destinations and up-and-coming destinations seeing rises in the past few years, this surge could be a result of the changing holiday landscape following both Brexit and the Covid-19 Pandemic.
Here in the UK, we’ve been encouraged and often forced to holiday from home over the past few years, not least due to the spread of Covid, various lockdown measures and the increased complexity of travelling abroad and as a result, holiday properties in the UK have been in increasingly high demand.
Data was collected by the BBC from 152 local councils regarding short-term holiday lets. The lets that qualified for this particular study needed to be available for at least 140 days a year, and registered for business lets rather than council tax. This effectively ruled out those with second homes or privately owned holiday properties that weren’t designed to be let out to holidaymakers.
The results of the data collection saw a 40% increase in total holiday lets across the 152 councils, rising from 19,543 properties in 2018 to an incredible 27,424 by 2021. Government figures are also reported to suggest the same 40% rise across the whole country, not just the 152 reported properties.
Some of the key locations in the UK that saw significant rises included:
- Scarborough – A 43% rise, rising from 2032 in 2018 to 2913 in 2021.
- North Devon – A 33% rise, rising from 1319 in 2018 to 1758 in 2021.
- East Suffolk – A 10% rise, rising from 1475 in 2018 to 1614 in 2021.
- Isle Of Wight – A 39% rise, rising from 908 in 2018 to 1262 in 2021.
- Great Yarmouth – A 44% rise, rising from 871 in 2018 to 1251 in 2021.
- York – A 49% rise, rising from 448 in 2018 to 669 in 2021.
- East Riding of Yorkshire – A 51% rise, rising from 549 in 2018 to 831 in 2021.
- South Norfolk – A 97% rise, rising from 117 in 2018 to 230 in 2021.
Estate agents have reported a sharp increase in the number of people looking to purchase second homes, often with the intention of letting them out as holiday lets to holidaymakers both here in the UK, and those travelling abroad. For those in a position to purchase the second property, it can offer them the opportunity to truly make the most of the latest surges in holiday demand – with more of us looking to holiday from home and with rising temperatures often giving us longer and more pleasant summers than previous years, the holiday lets market is undoubtedly becoming more and more competitive.
If you’re looking to let out your second property as a holiday let, now may be the perfect time to jump onto that ladder. However, it’s important to make sure that you are prepared to be a holiday let landlord. Letting out a second property, even on a holiday basis, still requires a level of upkeep, a lot of work in advertising and marketing and, in many cases, hours of work to keep the property in top shape between tenants and guests. A good and comprehensive holiday home insurance policy will also provide you with additional protection financially in the case of damage, theft or loss of earnings. Get in touch with Ashburnham Insurance to find out more for FREE on 0800 1696137.