Continued high demand for short-term rentals

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Continued high demand for short-term rentals

Those considering buying, renovating, extending or converting a home to make it suitable for short-term let will be interested to see the staycation is expected to continue to boom.

Despite foreign travel opening up again, the appetite for holidays and breaks at home has not subsided, according to recent research.

A report by Euromonitor showed that the self-contained accommodation sector, which includes short term rentals, was ahead of other sectors in terms of the value of sales recovery for 2021.

Short-term rentals are forecast to be one of the key drivers of the UK’s recovery and the sector is expected to reach 2019 levels, of around £2.1bn, in 2022.

A survey conducted by Sykes Holiday Cottages in November found more than half (53 per cent) of Britain’s holidaymakers said visiting lesser-known places makes them feel like they are getting the most out of the UK.

Exploring the local area (52 per cent) and spending quality time with friends and family (47 per cent) were cited as the most memorable things about taking a UK break.

Approximately four in 10 said they would “go out of their way” to visit less popular locations.

Graham Donoghue, CEO of Sykes Holiday Cottages, says: “A holiday doesn’t have to mean flying abroad or driving hundreds of miles. Our research shows that Brits are now much more open to exploring what lies closer to home.

“With beautiful countryside and award-winning beaches, the UK is a wonderful location for a staycation and it’s great to see that lots of people are planning to make the most of what the country has to offer.”

Mintel’s Report on Domestic Tourism found that 89 per cent of UK holidaymakers said they enjoyed discovering a new part of the UK during their holiday.

And, its survey into Family Holidays revealed that more than a fifth (22 per cent) of family holidaymakers said they had discovered a new place in the UK for a holiday as a result of Covid-19.

The same report found that nearly half of family holidaymakers said that they were interested in renting a cottage or villa for future trips, compared with a quarter who have done so for the past three years.

Nearly three quarters (72 per cent) of adults were happy for holidaymakers to stay in their locality.

The same Mintel report found that nearly a fifth (18 per cent) of those who plan to spend more of their holidays in the UK want to do it to limit their carbon footprint.

Mintel’s Family Holidays report found that 14 per cent of parents now see carbon reduction as one of their five top factors when considering their choice of family holiday.

Adding to the focus on the environment, the Mintel research also found that more than a quarter (28 per cent) of British adults said they prioritise the environment more now than they did before the pandemic.

Merilee Karr, Chair of the UK Short Term Accommodation Association (STAA) and CEO of UnderTheDoormat, adds: “Having seen the benefits to the environment from the reduction in travel and the positive impact their holiday pound has had on the local communities in which they stay, many UK staycationers are now factoring in their carbon footprint when it comes to selecting a holiday destination and their choice of accommodation.

“Short-term rentals are a great example of recycling existing assets for the mutual benefit of guest and host.

“They offer flexible booking terms, are in locations that are often less well served by other accommodation types – and are able to cope with larger groups of families or friends for a ‘home-from-home experience.’”