In a recent report released by Sykes Cottages, the company discusses how Brexit will affect the UK holiday letting market and how property owners can make the most of the consequences.
There has never been a better time to own a holiday rental in Britain after the result of the EU referendum on June 23rd, according to the UK’s leading holiday cottage rental agency, Sykes Cottages.
In a recent report released by Sykes Cottages, the company discusses how Brexit will affect the UK holiday letting market and how property owners can make the most of the consequences.
The report acknowledges that the UK holiday market is already strong, with Visit England presenting record breaking visitor data for the first quarter and spend up by 23% on last year. This increase in demand for UK holidays has been reflected in website traffic to the Sykes Cottages website, which was up 20% year on year in June 2016.
Post-referendum, Sykes Cottages considers that this increase only looks set to continue as the current value of sterling makes Britain excellent value for money for those travelling from abroad, as well as making it more expensive for Brits to holiday overseas. As a result, accommodation in Britain has never been more in demand.
Miles Hill, CEO at Sykes Cottages said: “The recent tourism figures released by Visit England are the best ever and prove that the UK holiday market is strong and open for business. Whatever the outcome of the negotiations, the British tourism industry will continue to go from strength to strength."
“Especially in the current climate where interest rates have hit an all-time low and the tourism industry is set to receive a boost, owning holiday accommodation in the UK could be a very profitable venture.”
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
