The UK holiday letting market is set to boom in 2019, according to holiday letting company Mulberry Cottages. This is on top of the reported 24% rise in holiday cottage bookings seen in 2018 by other holiday lettings companies such as Sykes.
British tourism is currently booming. It is the fastest growing industry in the country, with predictions suggesting that, by 2025, the industry will be worth £257bn.
With the uncertainty of how Brexit may affect holidays to Europe, and some traditionally popular holiday destinations such as Tunisia and Egypt plagued by the threat of terrorism, more and more people are reverting to holidaying in the UK, enjoyed by most people until the advent of the cheap package holiday. This coupled with 2018 enjoying the hottest UK summer since the 1970s, it is hardly surprising that there was a healthy increase in ‘staycations’ as demand increased for UK travel.
Mulberry Cottages’s figures show that, by Summer 2018, they were already ahead on bookings for summer 2019 by 25 per cent year-on-year. There has also been a large increase in international guests with them reporting an increase of 33% in visitors from overseas booking holiday cottages here in the UK.
West Wales is becoming the ‘go to’ place for year round holidays, offering as it does superb Blue and Green Flag sandy beaches, surfing, sailing and coasteering, the 186 miles Pembrokeshire Coast Path and the Preseli mountains for walkers, the opportunity to see puffins, chuffs, whales, dolphins, porpoises, seals, etc. for wildlife lovers, Norman Castles and beautiful gardens to explore, courses to enjoy in everything from traditional building methods to painting, ceramics and leather work, superb restaurants and a myriad other things to do.
With Wales being one of the few places where property prices are still rising and with estate agency, Savills, predicting prices here will increase by 20% in the next 5 years, it is the perfect time to invest in a buy to holiday let property in Pembrokeshire, Carmarthenshire or Ceredigion. While traditional buy to let properties have been adversely affected by tax changes, these do not apply to buy to holiday lets making them a very attractive investment.
Tips from Mulberry Cottages include targeting the Five Star market. They say “Four-star is not good enough anymore, five-star is expected. In order to get the most bookings, owners should aim for the five-star market as the level of luxury expected is continuing to rise. We are starting to see houses that we would consider six-star coming onto the market and these properties are letting incredibly well”.
Location is, of course, of prime importance. Properties with sea views and direct access to a beach command the biggest revenue but are, of course, the biggest investment. Currently a property in Pembrokeshire on the market with access directly onto the beach generates £14,000 a month in the Summer. However, there are opportunities for investors with every sort of budget – a small cottage in the mountains, for example, will cost far less to purchase but will attract walkers year round and those who just want to ‘get away from It all’.
If you are thinking of investing in a buy to holiday let in Pembrokeshire, Carmarthenshire, Ceredigion or Gower, call West Wales Property Finders on 01834 862816. We can help you find the perfect property to fit your budget, advise you on how best to market it and, at the same time, save you time, stress and often money. http://www.westwalespropertyfinders.co.uk
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