The West Dorset Magazine, March 25, 2022
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Property
Dorset top for holiday home earnings Dorset is the highest earning region of the UK for holiday home owners, a new report has found. The average four-bedroom holiday home owner in Dorset made £35,864 in 2021. Meanwhile, similar properties available in the Cotswolds and the Peak District fetched just over £35,000 and almost £34,000 respectively. According to Sykes Cottages’ report, the average annual income generated by a holiday home in 2021 was almost £28,000 – a 33 per cent increase on 2019. The report added that this was partly due to a 35 per cent rise in occupancy rates, with the covid lockdown cited as a major reason for the increase
in the popularity of ‘staycations’ in 2021. Bev Dumbleton, chief operating officer at Sykes Holiday Cottages, said: “2021 was certainly the year of the staycation, as we saw the strong demand for UK-based accommodation culminate in record occupancy rates and a significant boost in average yearly income. “With the interest in holidays closer to home likely to remain a fixture for years to come, those considering investing in a holiday home in 2022 could see great success – particularly if they choose a location which has proven fruitful for those already in the market this year.” After Dorset took the top spot
for average holiday home rental incomes of £35,864 in 2021, The Cotswolds came in second with an average income of £35,027 for an average four-bedroom property. In third place was the Peak District, with an average income of £33,833, and in fourth place was Devon, with an average income of £33,071. The fifth position was taken by Somerset, with an average annual income of £32,708. Top tips to increase your rental home’s income: n Offer shorter let periods of two to four days to improve your offering n Spruce up the garden –
holiday homes with well tended gardens earn 15 per cent more on average n Consider fitting a cosy log burner or open fire – properties with these features earn up to 21 per cent more on average n Install some luxury features – hot tubs, saunas and pool tables all seem to have an impact on a property’s desirability n Location is key – research shows homes in towns earn 21 per cent more than those in cities and 9 per cent more than those in smaller villages. It seems staycationers want a decent level of remoteness coupled with access to fun things to see and do nearby.
