Research reveals hottest holiday home locations
NEW research from leading holiday home company Classic Cottages shows that 2021 was a record year for the self-catering industry in South Devon with search demand for holiday homes up by as much as 100%, compared to the last full year for bookings in 2019.
The report shows that average incomes for holiday homes in South Devon increased by 19% compared to 2019.
Racing ahead in terms of demand, Bigbury-on-Sea (pictured) saw a 100% increase in site search traffic, followed by Salcombe, where property searches rose 67%, and Dartmouth, which witnessed a 48% rise in interest.
Property investors can see where they can make their money stretch furthest based on holiday rental incomes. The report shows that an investor with a £1.3m budget, for example, could purchase a fivebedroom sea-view house in Salcombe, or three three-bedroom houses in Brixham, leaving money to spare for renovation work.
Classic Cottages says sea views have been shown to increase average income by up to 39%, while adding a hot tub can generate a 29% uplift in turnover. Making a property pet-friendly can boost revenue by as much as 29%.
Dan Harrison, commercial director at Classic Cottages, said: “2021 was an extraordinary year for the business and as we enter the second quarter of 2022, we continue to see portfolio growth and strong booking numbers. Occupancy levels for the year ahead are already up 20% versus the same point in 2019, which is a very positive start to the year.”
Dan added: “Our report summarises just a few of the key observations we’ve made on property investments in Devon as well as booking patterns for the year. It proves that the popularity of holidays in Devon is not wavering and it would be a good time to invest for those considering a holiday home in the South West.”
The guide, which is available to download, includes area guides so that investors can understand the potential draws of one destination over another.
For more information, https://www.classic.co.uk/or
01364 370011