Entering the vacation rental market? A new report indicates that we must try…
Search demand for holiday homes in South Devon has increased by 100% in 2021, suggesting a record year for the catering industry in the area, according to holiday home company Classic Cottages.
Its free downloadable guide – titled ‘A Guide to Holiday Rental in South Devon’ – found that average holiday home incomes in South Devon have increased by 19% compared to 2019.
Leading the way in demand, Bigbury-on-Sea saw a 100% increase in search traffic to the site, followed by Salcombe, where property searches increased by 67%, and Dartmouth, which saw an increase 48% interest.
The guide also covers advice and tips on all aspects of owning a holiday home in Devon, from tax considerations to insurance, as well as what types of properties to consider and why.
Average home prices are shown by location so on-the-go buyers can see where they can get the most bang for their buck. The report shows that an investor with a budget of £1.3million, for example, could buy a five-bedroom house with sea views in Salcombe, or three three-bedroom houses in Brixham, leaving money to save for renovations.
Additionally, the guide provides helpful advice on features that homeowners should consider when buying a property to increase their annual income. Sea views, for example, have been shown to increase average income by up to 39%, while adding a hot tub can generate a 29% increase in turnover. Making a property pet friendly can increase revenue by up to 29%.
Covering developments, apartments, chalets, holiday homes, glamping, cabins, cabins and even treehouses, the report provides a one-stop guide for people considering investing in a holiday home or use land to generate income from glamping.
The handy report shows the average property prices for some of South Devon’s most popular holiday destinations, as well as the average income holiday home owners can expect for properties of one, two, three and four bedrooms.
Commenting on the guide, Dan Harrison, Commercial Director of Classic Cottages, said: “2021 has been an extraordinary year for the business and as we enter the second quarter of 2022 we continue to see portfolio growth and a high number reservations. Occupancy levels for the year ahead are already up 20% from the same point in 2019, which is a very positive start to the year.
“Our report summarizes some of the key observations we have made about property investment in Devon as well as booking patterns for the year. It proves that the popularity of holidays in Devon is not waning and that it would be good time to invest for those considering a vacation home in the South West.
The guide, which is available for To downloadincludes regional guides so that investors less familiar with South Devon can understand the potential draws of one destination versus another.