By looking at Sykes Holiday Cottages’ data, they have calculated that the average annual income for a UK short-let is £24,500. This is up from last year’s average income of £24,000. In vacation hotspots such as the Cotswolds, the income averages at £28,500.
The report also polled 500 UK holiday homeowners to understand the current short-letting market further.
While 65% of owners responded that they are worried about recent changes to the sector, 86% stated that they are likely to continue to rent out their holiday let. Half of owners said they are likely to buy another holiday let in the near future.
Graham Donoghue, CEO of Sykes Holiday Cottages, commented: “Staycations have been growing in popularity over the past decade and right now, demand for our UK holiday cottages is higher than ever, with the average annual income of a holiday let owner up as a result. But of course, the past twelve months have been slightly different for the industry, and our latest report, therefore, also reflects how holiday let owners are feeling in light of the recent changes.
“Despite changes, it is clear that holiday letting remains a profitable and rewarding long-term business model, with the nation’s love of holidaying at home and exploring our incredible country going nowhere. The Cotswolds, in particular, has had a positive year, claiming the top spot for earnings across the UK.”
