Seahouses in Northumberland - A Rising Star for Holiday Lets

Seahouses in Northumberland has emerged as the town with the largest increase in rental profits for holiday let owners, surpassing even popular destinations like Cornwall. Analysis by Sykes Holiday Cottages revealed that Northumberland saw a fourfold increase in profits compared to the previous year, with Seahouses experiencing a 36% rise in rental income to £29,700 annually. Other locations in Northumberland, such as Bamburgh, Alnwick, and Alnmouth, also saw significant increases in rental profits, with Cumbria's Ambleside and Grasmere following suit. The surge in rental profits in Northumberland has been attributed to the region's diverse attractions, including its stunning coastline, tranquil landscapes, and traditional towns and villages. Visit Northumberland's Andrew Fox highlighted the growing interest in the county's offerings, while Graham Donoghue of Sykes Holiday Cottages noted the wide range of activities available to travelers in the area, contributing to the rise in bookings and annual incomes for holiday let owners. Despite Cornwall remaining the most profitable region for holiday lets, Northumberland has seen a substantial increase in profits for investors, with rental income in Seahouses and Bamburgh notably on the rise. The average income for a British holiday let owner is £24,500, with a quarter of owners using their properties to generate income during retirement. The report also mentioned the abolition of the furnished holiday lettings regime by Chancellor Jeremy Hunt in the Budget, impacting how holiday let owners qualify for capital gains tax relief. The issue of holiday lets impacting local communities and house prices is a concern across the UK, with some areas like Narberth taking measures to prioritize locals over tourists. In response to the growing demand for holiday homes, Sykes Holiday Cottages' analysis highlighted the significant growth in profits for holiday let owners in Northumberland, showcasing the region as a new hotspot for investment in the holiday rental market.