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The staycation boom that occurred during the pandemic has ended, but bookings are still 16% higher than before the outbreak.
And the Sykes Holiday Cottages report has proven to be very profitable, with owners typically having a turnover of £24,000 last year, up 59% from 2019.
£33,000 for 3 bedrooms and £57,500 for 5 or more beds.
Graham Donoghue, CEO of Sykes Holiday Cottages, said:
“The imminent review of the sector by the government cannot be ignored and our research suggests it is on vacation, which is also on owners’ radars. Among other government priorities, we believe immediate changes in the sector are highly unlikely.
“In the meantime, our focus as a business is to continue demonstrating the positive impact of the sector while playing a role in supporting the sustainable growth of the sector.”
A quarter (25%) of UK holiday home owners are very concerned about possible new regulations or fees, and a further 52% are somewhat concerned.
The government is now looking for ways to regulate the sector over concerns that short-term rentals will reduce the supply of long-term rental stock, dominate several parts of the UK and shrink communities.
Cumbria and the Lake District will be the highest-income holiday hotspots in 2022, with owners earning an average of £28,000.
The Cotswolds also appeared for the first time on the list of the top 5 highest earning regions with an average annual income of £28,000, a close third and the peak district with an average turnover of £27,500.
For those considering what to invest in, hot tubs continue to be the biggest driver of revenue growth, with the potential to increase average income by 37%. On the other hand, pet-friendly properties can increase owner income by 31%, and WiFi can increase income by 26%.
Sentiment among holiday lease owners remains strong, with inquiries from new owners up 173% compared to 2019.
Nearly 84% of vacation owners say bookings are stronger than ever, with bookings to Sykes properties now up 9% year over year and 63% saying they will We are planning to expand our vacation rental portfolio.