Buy-to-let or Holiday let?

The average holiday let property generates a whopping £1150 a week, almost six times the average weekly rent in the UK.

There are now over 160,000 holiday let properties in the UK, with the average income per booking up 7% in the first four months of 2017.

The areas in the UK where holiday let rental growth was fastest in the first four months of 2017 were: South of England (+17.3%) Cornwall (+14.5%) Devon (+8.9%)

The rise in rental income is being boosted by international and domestic visiting looking for short-term stays in popular UK holiday destinations.

There were a record number of visits to the UK in 2016 over (37m) and overseas visitors contributed more £22bn to the UK economy. The number of overseas visitors increased 7% in the first three months of 2017 (compared to the same period in 2016) and the amount they spent increased 11%.

The weak pound is persuading millions of Britons to remain in the UK this summer and attracting more overseas visitors to the UK. The strength of the UK tourist industry is paying dividends for holiday property owners in abundance.

Landlords have had just about everything thrown at them of late so only time will tell if we see a shift to holiday lettings in the future.

If you are looking for a new or re-mortgage do get in contact and one of our qualified advisers will be happy to help.