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Sixty-six per cent of Brits enjoyed a staycation last year, a 10 per cent increase on those who said so in 2017, according to the Staycation Index by rental property provider Sykes Holiday Cottages. The group reported sustained increases in bookings as a result, reflecting a growing appetite for property in the UK holiday rental market.

Sykes Cottages claimed that British holiday makers would boost the British economy by as much as £25 billion in 2019, as a result of opting to spend their summer holidays in the UK. As many as 50 per cent of respondents indicated making plans to spend their summer break in the UK this year, according to the index.

South West gets top spot

Of all the regions in the UK, respondents chose the South West region as the most-desired staycation destination in 2018. This was closely followed by North Wales, Cumbria and the North York Moors & Coast region.

LOFT – MPU

The Cotswolds were the region that saw the greatest increase in demand for rental property for staycations since the previous year, followed by the South West. Seven in 10 locations in the top 10 most popular places were coastal ones, while the Index also suggested that three in 10 of them were all in the Lake District.

Graham Donoghue, CEO of Sykes Holiday Cottage explained the booming demand for holiday rental property, saying: “In recent years, Britain has enjoyed a staycation boom, with holidays abroad increasingly being shunned in favour of UK breaks…Last year was a record year for staycations…With beautiful countryside, breath-taking beaches, and vibrant cities, there are plenty of reasons to leave our passports at home this year and enjoy what our country has to offer.”

Another bumper summer

Mr Donoghue expected that demand for staycations in 2019 could prove to be every bit as strong as in 2018, commenting that: “According to the Met Office, 2018 was also the hottest summer in more than a decade…with reports of another heatwave on the way, more than one in 10 Brits say they plan to holiday in the UK in 2019 because of the warm weather.”

Some other findings from the Staycation Index included the fact that 20 per cent of prospective buyers of rental properties in the UK were seeking to book a more sustainable holiday in 2019.

When asked what features buyers looked for in rental properties, respondents prioritised having a garden and good WiFi. This follows a report which found that people seeking new homes also sought a garden as a top-priority feature.

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Steven Taylor
Steven reports on the daily churn of the property news cycle, often reporting on the stories you may have missed during the week. He covers a range of topics, including market sentiment, new findings and announcements by policy-makers.

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