Holiday home hotspots revealed as FHL scheme faces axe

Holiday home hotspots revealed as FHL scheme faces axe

0:07 AM, 15th May 2024, About 2 weeks ago 1

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The UK government’s decision to abolish the furnished holiday lettings (FHL) regime has led one firm to identify the areas most likely to be impacted.

The study by Howden Insurance, using data from the Office for National Statistics (ONS), unveils those holiday home hotspots across England and Wales.

The Isles of Scilly takes the crown with the highest concentration of holiday lets.

That’s where 5% of its dwellings are dedicated to holiday rentals to help a thriving tourism sector.

The data shows there are 65 holiday homes among the total of 1,300 residences.

The popularity of holiday home ownership

A spokesperson for the firm said: “These insights highlight the popularity of holiday home ownership across England and Wales and identify the areas where current property owners would benefit from letting their home out this holiday season.

“The data also reflects the growing interest in holiday home rentals, offering families and individuals diverse accommodation options.”

Next on the list is South Hams, a stunning coastal district in Devon, with 4.4% of its properties catering to holidaymakers.

Gwynedd in northwest Wales nabs the third spot, boasting 4.1% of its residences listed as holiday lets.

Properties dedicated to holiday rentals

North Norfolk and the Isle of Anglesey in Wales also rank high on the list, with 3.9% and 3.3% of their properties dedicated to holiday rentals respectively.

Popular tourist destinations like South Lakeland and Scarborough also feature prominently, highlighting the significance of the holiday home market in these regions.

The area with the lowest number of holiday lets is Tameside in Greater Manchester.

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Cider Drinker

11:05 AM, 15th May 2024, About 2 weeks ago

Former holiday lets will be bought by people retiring to the area.

There will be no additional homes for locals and there will be an impact on the numbers of jobs in hospitality.

So, fewer jobs and still not enough affordable homes.

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