27 May 2022

Holiday let still growing in the UK

Blog |
Industry Trends

With staycations booming, now is a great time to look at acquiring a vacation rental property.

Summer 2021 was certainly the season of the UK staycation. Brits holidayed at home while foreign travel was curtailed by Covid, and demand exceeded supply many times over, limiting choice and raising prices. It will therefore come as no surprise that there has been a huge boom in property investment for B&Bs, guest houses and holiday homes.

As property investors continue to look to capitalise on the increase of UK-based holidays, will that trend continue? Does that make holiday lets a worthwhile investment for the future?

According to eviivo partner ASC Finance for Business, there has been strong and steady growth in those looking for finance for holiday lets and B&Bs, as well as a surge of interest in the mortgages required for this niche market. One ASC client recently secured finance to purchase a buy-to-let property in Wales which has been renovated to a very high standard and is now ready to welcome guests. Another recently opened a collection of luxury cottages in Hampshire to host up to 22 guests.

Savvy business people can see this ongoing opportunity and are looking to make the most of the ready market of tourists wanting to continue to explore the UK. The pandemic meant that many people enjoyed visiting a UK destination for their holidays last year, either for the first time or returning after many years, and the outlook for domestic tourism remains positive.

If you are looking to start or expand an accommodation business, eviivo have all the tools you need, with our hassle-free booking and property management platform for independent accommodation providers. Our cleaning dashboard and owner management tools in particular can really help vacation rental owners save time and money, and our ground-breaking eviivo Mobile app even frees users from the constrains of an office desk.

By working together, eviivo and ASC are making the entire process of finding, financing and filling your new B&B, guest house or holiday let just a little bit easier.

If you would like to find out more about financing for a staycation property, or any other type of finance, speak to your local ASC office today.

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