Staycations – Property & Rent Prices

uk summer holidayIt’s been a strange year for everyone across all industries. As Covid restrictions ease, then return again, industries are doing their best to keep up with the demands.

In this article, we’ve looked at 2 of those industries: The property market and the UK holiday scene.

This year, as travelling abroad grounded to a halt, Britons flocked to staycations. City destinations, countryside breaks and seaside towns became the rage as planes collect dust.

Furthermore, the new working from home conditions have brought about a new set of questions.

Will the working from home system continue after Covid? If so, will that mean people move out of city areas into picturesque parts of the country?

As holidaying with the UK gains in popularity and new home working practices being adopted, the best staycations are being brought further into the spotlight.

With this in mind, we’ve put together a list of the UK’s most popular staycations and their property prices & rental costs

 

Staycations – Why so popular now?

Cottages.com reported a 455% increase in year-on-year bookings, in months after full lockdown restrictions were eased, as holidayers looked to alternatives as flight restrictions were in place.

With 24.9% saying they’d prefer to holiday in the UK until there is a Coronavirus vaccine, staycation trends look likely to continue for the foreseeable future.

According to recent studies, 48% of people who have been working from home during the pandemic state they’d prefer to stay working from home

The pandemic has forced more businesses than ever to rapidly adopt a work from home model. And though some may have struggled to adjust at first, many are now reaping the benefits of such policies — and that may lead to a permanent shift in working conditions across industries.

It therefore poses the question, if you’re going to work from home, why not do it from one of the most fun, scenic or relaxing destinations in the country?

Or for those savvy investors looking to gain income from the staycation trend, where should you buy a property and how much are you likely to be paying?

On average, buyers will need to fork out £329, 629 on the average property based in one of the UK’s top 30 staycations.

On the rental side of things, our data shows that renters will be paying £906.64 in monthly rent.

 

Staycations – The cheapest areas

Blackpool heads the table as the cheapest staycation destination for property buyers and renters. The average property costs £95,526 with monthly rent charged at £464.

Blackpool’s tourism saw a year on year growth for 4 years, post infamous declines in the region’s economy. 

Blackpool is maintaining its position as the UK’s most visited seaside resort through continued investment in tourism infrastructure, new shows and attractions, as well as the rejuvenation of iconic assets such as The Blackpool Tower and the Winter Gardens.

In second place is Eyam, the English village and civil parish in the Derbyshire Dales, lying within the Peak District National Park. Property prices are £109,301 and monthly rent is £627.

In 3rd and 4th place are Cardiff & Glasgow. Although posing low property prices of appx £176,000, rental costs of £845 and £831 are much higher than the other top 6 entries in the cheapest staycation property price table.

There’s a huge difference between 1st and 30th positions in both property & rental prices, in our staycation league table. In fact, if you sold a property in the most expensive staycation location, you could buy 10 properties in Blackpool!

 

Staycations – The most expensive ones

Central London, Windsor and Brighton make up the top 3, for most expensive to buy and rent.

Central London would be the obvious leader, with the average property costing £1,062,000 in the slap bang middle of the city.

Windsor in 2nd place, famed for Windsor castle, historic scenery and it’s appealing town, has an average property price of £548,011, followed by Brighton with its average property price of £404,325.

 

Staycation hotspot league table – Rental prices

Position Location Purchase price Rental price No. of overseas visitors per year (000’s)
1 Central London £ 1,062,157.00 £ 2,252.00 21,713
2 Windsor £ 548,011.00 £ 1,386.00 234
3 Brighton £ 404,305.00 £ 1,370.00 647
4 Edinburgh £ 478,000.00 £ 1,213.00 2,206
5 Bath £ 472,654.00 £ 1,076.00 401
6 Isle of man £ 288,908.00 £ 1,065.18 79
7 York £ 334,646.00 £ 1,048.00 297
8 New Forest £ 380,543.00 £ 993.00 69
9 Weymouth £ 395,926.00 £ 968.00 17
10 Manchester £ 235,528.00 £ 946.00 1,125
11 Exeter £ 287,583.00 £ 862.00 96
12 Lakeside £ 464,000.00 £ 852.00 155
13 Cheltenham £ 346,681.00 £ 845.00 74
14 Glasgow £ 176,613.00 £ 845.00 771
15 Cardiff £ 176,655.00 £ 831.00 382
16 Bournemouth £ 211,097.00 £ 822.00 137
17 Stroud £ 335,656.00 £ 813.00 31
18 Dorchester £ 321,336.00 £ 799.00 13
19 Norwich £ 216,751.00 £ 788.00 51
20 Dartmoor £ 338,675.00 £ 775.00 <10
21 Bakewell £ 289,536.00 £ 747.00 <10
22 Cornwall £ 327,224.00 £ 734.00 138
23 Whitby £ 311,581.00 £ 728.00 <5
24 Dovedale £ 349,777.00 £ 710.00 <5
25 Isle of Wight £ 254,744.00 £ 703.00 60
26 Great Yarmouth £ 267,785.00 £ 702.00 <10
27 Plymouth £ 188,801.00 £ 656.00 97
28 Torquay £ 208,094.00 £ 639.00 50
29 Eyam £ 109,301.00 £ 627.00 <10
30 Blackpool £ 95,526.00 £ 464.00 30

 

Staycation hotspot league table – property prices

Position Location Purchase price Rental price No. of overseas visitors per year (000’s)
1 Central London £ 1,062,157.00 £ 2,252.00 21,713
2 Windsor £ 548,011.00 £ 1,386.00 234
3 Edinburgh £ 478,000.00 £ 1,213.00 2,206
4 Bath £ 472,654.00 £ 1,076.00 401
5 Lakeside £ 464,000.00 £ 852.00 155
6 Brighton £ 404,305.00 £ 1,370.00 647
7 Weymouth £ 395,926.00 £ 968.00 17
8 New Forest £ 380,543.00 £ 993.00 69
9 Dovedale £ 349,777.00 £ 710.00 <5
10 Cheltenham £ 346,681.00 £ 845.00 74
11 Dartmoor £ 338,675.00 £ 775.00 <10
12 Stroud £ 335,656.00 £ 813.00 31
13 York £ 334,646.00 £ 1,048.00 297
14 Cornwall £ 327,224.00 £ 734.00 138
15 Dorchester £ 321,336.00 £ 799.00 13
16 Whitby £ 311,581.00 £ 728.00 <5
17 Bakewell £ 289,536.00 £ 747.00 <10
18 Isle of man £ 288,908.00 £ 1,065.18 79
19 Exeter £ 287,583.00 £ 862.00 96
20 Great Yarmouth £ 267,785.00 £ 702.00 <10
21 Isle of Wight £ 254,744.00 £ 703.00 60
22 Manchester £ 235,528.00 £ 946.00 1,125
23 Norwich £ 216,751.00 £ 788.00 51
24 Bournemouth £ 211,097.00 £ 822.00 137
25 Torquay £ 208,094.00 £ 639.00 50
26 Plymouth £ 188,801.00 £ 656.00 97
27 Cardiff £ 176,655.00 £ 831.00 382
28 Glasgow £ 176,613.00 £ 845.00 771
29 Eyam £ 109,301.00 £ 627.00 <10
30 Blackpool £ 95,526.00 £ 464.00 30

Sources: PropertyData.co.uk, VisitBritain.org, Travelsupermarket.com, cosmopolitan.com

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