- Data from Trussle reveals demand for properties in staycation hotspots is booming[1]
- Popular holiday locations have seen up to an 85% increase in mortgage leads[2]
- The Scottish Highlands is the staycation location that offers the best value for money to move to, with house prices £73,861 below the UK average[3]
- In contrast, making a staycation in the Cotswolds permanent would cost buyers a premium of £193,223[4]
10 June 2021 – Dreaming of living where we holiday is a pastime every traveller can relate to. And, with many Brits taking a staycation instead of going abroad this year, online mortgage broker Trussle has reported that many of us are now looking to make this dream a reality.
Examining the top 10 UK staycation destinations that people plan to visit this year,[5] Trussle has found that demand for property in these locations has risen dramatically. The Yorkshire Dales appears to be the staycation that most Brits are wanting to make permanent, with Trussle reporting a 85% increase in mortgage leads for the area. This is followed by Devon (Exeter +71%), Cornwall (Truro +57%) and the Lake District (Windermere +47%).[6]
But, having a permanent holiday isn’t always cheap. With the average UK home currently costing £256,000[7], many of the UK’s top staycation destinations come at a premium. In particular, the Cotswolds’ average house price of £449,223 will cost buyers a premium of £193,223. Other expensive premiums include Dorset (£96,603), Edinburgh (£62,595) and Devon (£53,962). However, buyers could bag a bargain in the Scottish Highlands and Snowdonia, with house prices £73,861 and £72,982 below the UK average respectively.[8]
Miles Robinson, Head of Mortgages at online mortgage broker Trussle, comments: “With workers no longer anticipating being in the office 9-5, seven days a week, many are questioning the need to stay rooted in urban areas. As a result, what we look for in a property has changed dramatically and this has fuelled demand for properties in popular holiday destinations, which are often more secluded. This shift has taken place during a period that has been very uncertain and it remains to be seen if this trend will continue beyond the pandemic as we look to chart a path back to normality.”
Trussle’s analysis on the demand for properties in the UK’s top 10 staycations –
|
Destination[9] |
Average local house price[10] |
Average UK house price[11] |
Cost difference |
% increase in mortgage leads[12] |
|
Cornwall (48%) |
£302,100 |
£256,000 |
£46,100 |
57% in Truro |
|
Scottish Highlands (43%) |
£182,139 |
£256,000 |
-£73,861 |
15% in Inverness |
|
Devon (43%) |
£309,962 |
£256,000 |
£53,962 |
71% in Exeter |
|
Cumbria/Lake District (41%) |
£258,368 |
£256,000 |
£2,368 |
47% in Windermere |
|
Yorkshire Dales (35%) |
£290,235 |
£256,000 |
£34,235 |
85% |
|
Edinburgh (34%) |
£318,595 |
£256,000 |
£62,595 |
17% |
|
Peak District (32%) |
£285,029 |
£256,000 |
£29,029 |
44% in Buxton |
|
Snowdonia (32%) |
£183,018 |
£256,000 |
-£72,982 |
48% |
|
The Cotswolds (31%) |
£449,223 |
£256,000 |
£193,223 |
32% |
|
Dorset (30%) |
£352,603 |
£256,000 |
£96,603 |
64% |
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