Holiday home income rises by 19% in South Devon

New search for a leading holiday home company Classic Chaletsshows that 2021 has been a banner year for the catering industry in South Devon, with search demand for holiday homes up 100%, compared to the last full year for bookings in 2019.

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

Leading in terms of 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 free downloadable guide contains 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.

The guide provides helpful advice on features that homeowners should consider or look for 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, cottages, holiday homes, glamping, cabins, cabins and even treehouses, the report provides a one-stop guide for people investing in a holiday home or using a land to generate income through 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 HarrisonCommercial 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 strong bookings. 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.

Dan adds: “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 can be downloaded, includes regional 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 advice on properties, where to buy, renovations and how to manage a holiday home or a glamping offer profitably.

Classic Cottages also offers its ‘Field to Finish’ service, which guides property owners through the process of turning unused land into attractive holiday destinations, covering everything from planning to advice on the type of accommodation; whether it’s yurts, bell tents, cabins, shepherd’s huts or custom-built lodges.