The Holiday Business
There’s never been a better time to invest in a Cornish bolthole or luxury home, whether it be for your own use or as a holiday let investment.
Post-COVID, the staycation is the way to holiday safely and Newquay’s foundations continue to gain not only from all the national acclaim, but also the fortuitous British trend of more frequent, style-driven shorter breaks, at home.
The latest Mintel research shows that the value of domestic holidays taken by British residents is forecasted to grow by almost 100% by 2025, from c.£8bn in 2020 to c.£16bn in 2025.
Visit Britain research found the number of visits made in the UK for holiday purposes grew by 41%, from 12.0 million in 2009 to 16.9 million, in 2019.
A typical Airbnb owner in the South West earns an average of £36,000 over the year. This is 20% higher than the national average of £30,000.
Examining the trend
More than ever before, holidaymakers are seeking luxury-end self-catering properties as opposed to hotel room stays, given that (on average) they offer 30% more space, more privacy, more freedom and are more cost-effective in terms of there being no extra hidden costs.
The evidence of UK-based self-catering popularity lies in occupancy rates: self-catering accommodation in the UK averaged an 81% occupancy rate in 2019, and outperformed hotel rooms which stood at 77.2%. And that was all before COVID even became a word that we all understood.
Beyond the aftermath of COVID, however, buying investment properties remains an attractive proposition. Despite recent government policies designed to increase home ownership across the UK, we cannot escape the simple fact that prices are rising across the UK. Despite the stamp duty holiday now representing a distant memory, demand for property is still outweighing supply rather significantly.
Even the government’s target of a million new homes by 2025 would do little to buck this trend. In other words, our current trend doesn’t look like it’ll be going anywhere soon. Add in an ever-expanding UK population and several encouraging long-term forecasts, and it becomes evident that investing in property is still a smart option.
Furthermore, the days of Cornwall’s popularity being limited to summer visitors are long gone. It is now a compelling – and lucrative – year-round, much-lauded, on-trend destination for millions of people during almost every month of the year. Finding occupants for your property throughout the year is easier than it ever has been, be that for a couple of weeks at a time or as an ongoing rental arrangement.
Investment Properties for Sale from Stephens and Stephens Developers
Here at Stephens and Stephens, we have a number of very attractive investment properties for sale throughout the South West, with locations in Newquay, Charlestown, Truro, Falmouth, St Ives, and throughout Cornwall. If you’re interested in finding out more about our current or upcoming development projects, we’d absolutely love to hear from you.
Couldn’t your investment portfolio benefit from the pull of the most chilled of getaways and activities, spa treatments, wining and dining, and all aspects of the beguiling laidback Cornish lifestyle 365 days a year? We think so…