Sykes Holiday Cottages revealed Seahouses in Northumberland saw the biggest growth in annual income last year, up 36% to £29,700
Northumberland is fast becoming a very profitable hotspot in the UK to own a holiday let, reveals a new report from Sykes Holiday Cottages.
With over five locations in the region featuring in a list of destinations with the greatest income growth between 2022 and 2023, the holiday let agency has officially declared it as one to watch.
The Holiday Lettings Outlook Report for 2024 evaluated Sykes Holiday Cottages’ revenue and booking figures to determine the income potential of holiday letting in the UK. It revealed Seahouses in Northumberland saw the biggest growth in annual income last year, up 36% to £29,700.
Bamburgh was next on the list, up from £24,100 in 2022 to £30,100 in 2023, while Alnwick rounded out the top three, with annual incomes increasing by an average of 19% to £21,800. Other popular tourist destinations in Northumberland like Alnmouth and Beadnell also featured in the top 10.
Northumberland is now the 7th highest earning location across the UK to own a holiday let, rising from 19th position in last year’s edition of the report, with an average income of £25,000.
Sykes Holiday Cottages’ Staycation Report for 2024 has also identified it as the fastest-growing region for bookings in 2024, with booking to the agency’s holiday lets 15% higher versus last year.
Over the last 12 months, Northumberland has seen a range of new attractions open to the public, including a multi-million-pound Anglo-Saxon Museum and brand-new distillery, while the King Charles England Coastal Path which passes through Northumberland also opened during 2023.
Andrew Fox, Chair of Visit Northumberland, says: It is great to see holiday cottage demand and yield thrive in so many different areas of Northumberland which reflects the growing interest in the amazing attractions, places, and experiences available in the county.
Northumberland provides a great opportunity for property owners whether they are based on our stunning coastline, within our tranquil landscapes or in the heart of our traditional towns and villages, he adds.
We have seen steady visitor number growth through our sustainable management of the destination, and we will continue to focus on driving this growth in staying visitors through our activity in 2024 and beyond.
