Post Brexit growth in UK staycation holidays.
Brexit is getting ever closer and understanding how it might affect your property investment is crucial for the long term health of your holiday letting business.
The start of 2018 has seen a surge in bookings with guests committing earlier than in previous years for their main Summer holiday. This trend is backed up by research carried out by Lancaster University suggesting that 2018 will be a bumper year for domestic tourism. Their research is showing that anxiety about international holidays is making the market more cautious, with security a main driver to decision making. This shift in the tourism landscape is giving a boost to staycation holidays.
At the same time the latest statistics from Visit Britain have confirmed that tourism in 2017 grew by 4%, yet another year where the Tourist Industry outgrew other Industries, confirming its position as one of the success stories of the last decade. They are predicting a similar 4% growth for 2018, continuing the trend of outstripping inflation.
Visit Britain has continued to track consumer sentiment towards Britain since the referendum. This reveals that for most European visitors, brexit does not affect their decision to visit Britain which they believe is still a welcoming and good value destination.
Indepth research has shown different properties appeal to different European visitors. The Germans like coastal properties and those in the depths of the countryside, with honeypot locations such as The Cotswolds, Sussex and Dorset key areas that they like to visit. Whereas, the Dutch prefer wilder more natural environments with nature reserves and bird sanctuaries nearby. On the whole our European visitors love clean, modern properties, preferably with period touches such as beams, and they all like to visit English gardens and historic houses. So when preparing your house for holiday letting provide as much information as possible on the surrounding areas, where the gardens and historic houses are that are open to the public, the nature reserves and if you are near a beach where is the best beach and how to get there.
With the continuing tax benefits of investing in holiday letting, and the high return on investment, this remains a real option for those looking for strong returns.