It is official. Many people are looking to buy a UK holiday home, including your time-honoured landlords who are turning away from the traditional rental investment property market. Whether you want a cottage for personal use or to enter the buy to let market, you are joining a growing group of home buyers who are shunning popular destinations like Spain and Portugal, to buy a good UK holiday investment property, with ideal capital growth.
Such is this growing trend; Barclays Bank conducted its own survey to find out what is driving the market and why more Brits are joining a large group of people who own second homes in the UK. Both Leeds and Ipswich building societies have also released their holiday home finance products.
The well-known publication, “This is Money” also conducted their research, and they say landlords are fleeing the traditional buy-to-let market because of stricter tax rules hitting their bottom line.
A large reason for the growing trend, is more people are booking UK self-catering holidays. Visit Britain; the official tourism website also says inbound foreign tourism is and will continue to be the fastest-growing tourism niche, with spending power by foreign tourists expected to grow at least 6% a year. In 2018, the UK hosted just over 36 million tourists from countries all around the world.
So, that explains why landlords are looking to invest in UK holiday properties, but they are not the only niche buying. People who want a second home are buying for various reasons, of which a leading one is the staycation trend.
Buy a UK Holiday Home – The Staycation Trend
So, we have all heard of vacations, which is time away to relax and destress. Well, a staycation is the same, but you do at home or close by. One benefit is fewer travelling times and hassles. Holidaying abroad is fantastic, but not everyone wants the journey to and from airports, as well as sitting on a plane which is most cases is a flight of 4 hours average. Staycation holidays eliminate travelling weariness and time.
This tourism is growing in popularity because staycation holidays can be taken at weekends, or overnight, and in most cases, fit in easy with work schedules so that workers can keep their paid leave for other events. The result is more holidays a year. Staycation trends also offer many other benefits.
While travelling abroad and learning about exotic food, culture, traditions, and language is super fun for curious travellers, unfamiliarity can lead to just more stress and hassle. Staycation holidays offer familiarity on your doorstep so you do not have to learn anything new or step outside of your comfort zone.
Flying abroad is no longer as cheap as it used to be. With additional charges for luggage, seat reservations, food and carbon taxes, staycation holidays also work out less expensive on the pocket. Staycation holidays allow you to just up and go.
Because of familiarity and closeness, you need not spend a week planning your holiday itinerary of where to go, what to do, and what to pack. Many destinations have a wealth of activities on their doorstep, which makes them family-friendly. Many organisations also cite Brexit and a need to reduce our carbon footprints as reasons Brits holiday at home.
So, for anyone who wants to own a second UK home, where should they look at buying? Here at Spot Blue, we have three destinations forging ahead.
Buying a Holiday Home: Popular Destinations
1: Cornwall for Ever: A UK Tourism Hub
Living up to their tourism slogan of Cornwall forever, this destination has long dominated the British tourism market. Sitting in southwest England, it includes the famous Lands End. One reason, Cornwall stands out for most Brits is its own cultural identity as seen in the language and regional cuisine.
Since Cornwall is surrounded by sea on three sides, fish features in traditional recipes. Chefs Rick Stein and Jamie Oliver opened restaurants here, for that very reason. Many people recognise the famous Cornish pasty containing beef, onion and potato that makes a hearty snack or filling meal. Likewise, the production of clotted cream has led to local dishes of ice-cream and the sweet fudge.
Aside from putting a few pounds thanks to the delicious local cuisine, holidaymakers have a lot more to look forward to. A stunning coastline with miles of beaches, excellent climate, small quaint villages and protected national parks evoke a sense to get into the great outdoors. It has garnered a reputation among surfers who head to Porthtowan and Newquay. Other attractions include stately homes, beautiful gardens, and exciting museums.
These holiday cottages in Columb, Cornwall take the staycation theme one step further by offering a range of on-site facilities like an Aquapark, indoor pool, on site gym, and spa with extensive treatments. The children’s club offering various activities keeps the kids entertained, and on-site bar and restaurants eliminate the need to cook.
Selling as two, three or four-bedroom furnished holiday lodges, the developers offer a 7% guaranteed rental income for those who want to recoup running costs or join the holiday let property market. (See Beach homes for sale in Cornwall.)
Such is the roaring success of Cornwall’s tourism industry, 5 million people visit the region every year, and as domestic tourism makes a comeback, this figure will grow. One reason for Cornwall’s popularity is that it is easy to get to. The M4, M5 and M6 connect it to the rest of the UK via road and its airport with domestic and international flights sits just 15 minutes from New Quay. So, anyone looking for a property to use at the weekends can get there easily.
2: Homes in Yorkshire: Alive with Opportunity
Yorkshire’s tourism slogan is “alive with an opportunity” and emphasises what tourists and holidaymakers can enjoy. As the UK’s largest county, holidaymakers have an abundance of attractions and activities to look forward, including protected countryside emphasising the outdoor lifestyle. Nicknamed “Gods own county” these include parts of the peak district, Howardian Hills, the North York moors, Nidderdale, and Yorkshire dales. Scenic views befitting of adorning any picture-postcard scene are in Flamborough head, Filey, Whitby, and Spurn point.
Yorkshire does a roaring trade thanks to traditional seaside towns like Scarborough, and Whitby that received the award for being home to Britain’s best beach. However, several significant cities offer old and religious architecture, museums, and an alternative urban landscape.
If exploring ancient castles, and stately homes are your pleasure, get ready because Yorkshire has many including Pickering, Allerton, Bowes, Skipton, Richmond, and Middleham, the childhood home of Richard the Third. For regional food, put aside the traditional Yorkshire pudding to sample Parkin cake, the famous curd tart, ginger beer, liquorice, and the delicious Wensleydale cheese.
Examples of country holiday lodges include these fantastic homes sitting on the coastline. The holiday park provide easy access to a long beach, and a variety of on-site activities including an indoor pool, children’s splash pool, fitness gym, sauna and steam room with beauty treatments, tennis court, archery, laser clay shooting, fencing, and children’s activities to make this the perfect family getaway.
The two- and three-bedroom cottages ranging in size from 54 to 108 square meters come with the optional extra of optional guaranteed 7% net return. (Read more – holiday homes for sale in Yorkshire.)
3: Holiday in the Isle of Wight
From coastal destinations to gorgeous islands, the Isle of Wight, sitting 5 miles from Hampshire’s coast, has long been a favourite UK holiday destination since the Victorian era. Queen Victoria, built her summer residence Osborne house here, and throughout the decades, it has been home to many famous poets, musicians, and artists.
Reached by catamaran, hovercraft and ferry from Southsea, Southampton, Portsmouth, and Lymington, the island is enjoying a revival in tourism that declined when package holidays aboard took off.
Tourism now accounts for its most prominent trade income, and many hotels, restaurants and bars enjoy a steady trickle of tourists averaging 3 million people every year. One primary reason, people, visit the isle of wight is for outdoor holidays such as biking and walking, while sailing and maritime tourism follow behind.
Places of interest for tourists include the much famed Blackgang Chine theme park, Amazon world Zoo, Carisbrooke Castle, Fort Victoria Country Park, Osborne House, Dinosaur Isle Museum, Quarr Abbey, Ventor beach, and botanical gardens to name but a few. Likewise, many holiday parks offer on-site activities like swimming pools, children activities, cafes, and bars, so there is much to keep the whole family entertained. (See homes for sale in the Isle of Wight.)
Property Investment and Buying Tips
As much as the location matters, look at the holiday house, you plan to buy. While, their purpose is for a relaxing weekend, or family holidays, UK tourists looking for self-catering accommodation no longer compromise on amenities and facilities. It might be a vacation home but needs to be cosy, comfortable and modern.
Perfect holiday accommodation, sold as cottages or lodges, are often furnished and this takes much stress off the buying process, but home features to look for include the much-needed terrace or patio for outside dining, sofa beds, hot tubs in luxury properties and an equipped kitchen. After all self-catering holidays in a sub-standard kitchen, are not much fun at all. Most homes make the most of the surrounding landscapes and come with a fantastic view whether this is forest or beach.
If you plan to rent your holiday property, on-site facilities like swimming pools and gyms will be the deciding factor for renters. Likewise, if you forgo the contractual guaranteed rental income, prepare to do your marketing via the internet by using sites like Air BNB.
To buy a UK holiday home, and want to chat further about locations, payment plans, letting out and property ownership, call or email us today. As an experienced UK real estate agent, we also have a head office in Surrey, so pop in and see us. Alternatively, our messaging chat feature on this website puts you in instant touch with an advisor. Our knowledge of the holiday and letting property market ensures less stress and a wiser investment for you.
Why Buy a Furnished Holiday Let: In this article, we look at driving factors for the furnished holiday letting real estate market, from Brexit to a green lifestyle, currency, to easy accessibility and more.
Also see our range of UK property for sale. Each listing on the market includes all details to know including price, location home features, and how to arrange a viewing time and date.