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Holiday lets are different to second homes and should be treated as such - here's why
Data shows that full time holiday lets are 6x more economically valuable
Taking into account owner spend in the local economy (housekeeping wages, maintenance, window cleaning and private waste collection) plus guest spend in the local economy (eating/drinking out, entertainment and other consumables/leisure spend), figures show that on average a professionally-managed holiday let generates up to six times as much spend per property per year as a second home and up to three times as much as an owner-occupied property.
Comparison based on figures from ONS Family Spending in the UK: April 2019 to March 2020, GB Tourist, 2019 annual report from Visit Britain and Finest Retreats’ own proprietary data relating to bookings and rental figures for 3-bedroom properties.
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Research shows that 72% of owners may leave the market if forced to pay same penalties as second home owners
Research conducted by One Poll during w/c 23 May 2022
When asked “Would you consider withdrawing your Airbnb/holiday let(s) from the short term lettings market if licensing and fees were brought in by the council/government?”, responses were as follows:
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Yes - 72%
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No - 16%
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Not sure - 12%
100% of owners aged 55-64 who took part in the research said that they would consider withdrawing.
Among owners aged between 25-34 years old, ‘Yes’ responses rise above the average to 79%.
Regionalised data for most popular holiday regions in the UK
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Access the formatted spreadsheet with regionalised data using this link here.
Case studies available
Owners of properties managed by Finest Retreats across the UK are available to speak to media to discuss further - please contact White Tiger PR to be put in touch.
Media contact for all enquiries: Laura Marfell-Williams - laura.marfellwilliams@whitetigerpr.com / 07769 572 318
For more details about Finest Retreats’ properties around the UK, visit finestretreats.co.uk