Biggest yearly price rise seen across Welsh holiday hotspots
Recent research has revealed that holiday lettings hotspots in Wales have experienced the highest annual rise in price across the whole of the UK.
Second Estates analysis of HM Land Registry data found that over the last 12 months, the Forest of Dean have seen prices grow by 7% up to an average of £351,315, whilst properties in the Brecon Beacons are now priced at an average of £233,965 at an uplift of 6%.
Southern holiday destinations have also seen strong annual price growth, with areas near the capital such as the Isle of Sheppey and the Kent Downs experiencing an uplift of 4%.
In light of the warmer weather experienced during the end of June and throughout July 2018, it will be interesting to see the impact on demand and in turn, prices over this period.
Commenting on the price growth was Alistair Malins. The CEO of Second Estates said: “Holiday lettings can provide investors with better returns than buy to let properties, but knowing where to invest is key. Well-known locations like Salcombe may seem like obvious options, but properties are prohibitively expensive and prices have stalled in recent years.
We’re starting to see a resurgence in less expensive seaside locations that are starting to catch up with their more glamorous neighbours. Wales also offers great value and it’s unsurprising investors have moved swiftly to snap up properties and avoid the hike in transaction costs.
Second Estates is the first fund to operate in this market, making it easier for sophisticated investors, family offices and institutions to benefit from these returns without the associated hassle. We use booking and valuation data to intelligently predict the highest yielding properties in high value regions to pinpoint properties that will deliver an excellent return for investors. We also manage the properties on behalf of investors, to maximise occupancy rates. This drives the best yields for investors, whilst also delivering more vital tourist income for local communities”