NEW: Study reveals boom in holiday lets investment as staycation trend sticks

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Nearly one in 10 adults is seriously considering buying a commercial UK holiday let over the next five years, according to new research.

A study by the Nottingham Building Society reveals that the staycation boom has inspired millions to think about making the investment, with 52% of those who already own a holiday let having bought them in the past two years.

Would-be owners are not just in it for the money, as 67% say they and their family would go on holiday there every year, which is probably a good thing as the research shows over half (52%) of owners have cut rents, with 27% reducing them by a fifth or more compared with last year.

Despite this, the majority (84%) reported that they made more income from the properties in 2021 than 2020, with nearly a quarter (23%) estimating income was 30% or more higher.

Spotlight

However, short-lets are increasingly coming under the spotlight, with campaigners around the UK pointing to their impact on the availability of rented properties.

Read more: the Ultimate Guide to short lets insurance.

A new government study is looking at tougher checks and a self-certification scheme for hosts, while there have been suggestions that regional mayors could get powers to ban second home owners from renting out their properties on websites such as Airbnb.

The government has already empowered councils to charge up to double the rate of council tax.

Read Tom Entwistle's probe into the holiday lets market.

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