Holiday home income rises by 19% in South Devon

New research from leading holiday home company Classic Cottages, shows that 2021 was a record year for the self-catering industry in South Devon with search demand for holiday homes up by as much as 100%, compared to the last full year for bookings in 2019.

The report shows that average incomes for holiday homes in South Devon increased by 19% compared to 2019.

Racing ahead in terms of demand, Bigbury-on-Sea saw a 100% increase in site search traffic, followed by Salcombe, where property searches rose 67%, and Dartmouth, which witnessed a 48% rise in interest.

The free downloadable guide covers advice and top tips on all aspects of holiday home ownership in Devon, ranging from tax considerations through to insurance, as well as what types of properties to consider, and why.

Average property prices are shown by location so that nomadic buyers can see where they can make their money stretch furthest. The report shows that an investor with a £1.3m budget, for example, could purchase a five-bedroom sea-view house in Salcombe, or three three-bedroom houses in Brixham, leaving money to spare for renovation work.

The guide provides helpful tips on features that owners should consider or look for when purchasing a property to boost 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% uplift in turnover. Making a property pet-friendly can boost revenue by as much as 29%.

Covering developments, apartments, cottages, holiday homes, glamping, cabins, huts and even tree houses, the report provides a one-stop guide for individuals who are considering investing in a holiday home, or using land to generate an income from glamping.

The handy report shows average property prices for some of South Devon’s most popular holiday destinations, as well as average incomes that holiday homeowners can expect for one, two, three and four bedroom properties.

Commenting on the guide, Dan Harrison, Commercial Director of Classic Cottages, said: “2021 was an extraordinary year for the business and as we enter the second quarter of 2022, we continue to see portfolio growth and strong booking numbers. Occupancy levels for the year ahead are already up 20% versus the same point in 2019, which is a very positive start to the year.”

Dan adds: “Our report summarises just a few of the key observations we’ve made on property investments in Devon as well as booking patterns for the year. It proves that the popularity of holidays in Devon is not wavering and it would be a good time to invest for those considering a holiday home in the south west.”

The guide, which is available to download, includes area guides so that investors less familiar with South Devon can understand the potential draws of one destination over another.

For advice on holiday homes as an investment, Classic Cottages offers free consultations with its team of area managers who can be contacted to provide guidance on properties, places to buy, renovations, and how to run a holiday home or glamping offer profitably.

Classic Cottages also offers its ‘Field to Finish’ service, which guides landowners through the process of transforming unused land into desirable holiday destinations, addressing everything from planning through to advice on accommodation type; be that yurts, bell tents, cabins, shepherd huts, or bespoke built lodges.

Visit https://www.classic.co.uk/ for more information, or call the Devon property manager team on 01364 370011.