Revealing the Most Profitable Locations for Holiday Lets in Britain

Discover the latest data on holiday lets in Britain, with Cornwall emerging as the top destination for investors. Find out the average prices and revenue generated last summer.

The latest data on holiday lets in Britain has revealed some surprising insights into the most profitable locations for investors. According to analysis by the money website Wealth of Geeks, Cornwall emerged as the top destination for holiday lets, with an average price per night of £84 for a room and £117 for a whole house. Last summer, the area saw a total of 476,910 bookings, generating a revenue of £40 million between July and September.

Interestingly, the majority of the top ten locations for holiday lets are not coastal areas but are actually situated in inner London. Westminster, for example, ranked second on the list with an average price of £133 per night for a room and £435 for a house. With 304,790 bookings, the area generated a revenue of £34,441,270 during the summer period.

The data, which was based on bookings from popular rental platforms such as Airbnb, Booking.com, and the Expedia Group, highlights the significant revenue potential of the British holiday rental market. In total, the market made £739,211,390 during the summer of 2023, underscoring the lucrative nature of investing in holiday lets.

However, with the Chancellor's announcement of scrapping tax relief for furnished holiday lets in the upcoming Budget, potential investors are advised to carefully consider their options before entering the market. Despite the changes in the tax regime, experts in the sector believe that holiday rentals will continue to be in demand.

The data on the most profitable holiday lets in Britain provides valuable insights for investors looking to capitalize on the growing demand for short-term rentals. By analyzing the revenue potential of different locations and staying informed about regulatory changes, investors can make informed decisions to maximize their returns in the holiday rental market.