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Cotswolds the most profitable region for holiday lets

The Cotswolds has topped a new ranking of the best places in the UK to own a holiday let, a report from Sykes Holiday Cottages has found.

With annual incomes averaging £28,500, versus a UK average of £24,500, the region has taken the top spot away from Cumbria and the Lake District (£28,200) which has dropped into second place.

Dorset (£27,000) and Cornwall (£26,500) follow closely behind in the new ranking, while other common UK holiday hotspots like the Peak District (£26,500) and the Scottish Highlands and surrounding islands (£25,100) also feature in the top ten.

Graham Donoghue, chief executive, Sykes Holiday Cottages, said, “Staycations have been growing in popularity over the past decade and right now demand for our UK holiday cottages is higher than ever, with the average annual income of a holiday let owner up as a result.

“But of course, the past twelve months have been slightly different for the industry, and our latest report therefore also reflects how holiday let owners are feeling in light of the recent changes.

“Despite changes, it is clear that holiday letting remains a profitable and rewarding long-term business model, with the nation’s love of holidaying at home and exploring our incredible country going nowhere. The Cotswolds, in particular, has had a positive year, claiming the top spot for earnings across the UK.

“At Sykes, we’re passionate about holiday letting and the benefits it brings to local economies across the country by driving spending, providing direct employment, and supporting independent businesses. We will continue to guide owners through their short-term let journeys, helping them to run successful holiday homes, no matter what.”

Northumberland (£25,000) and East Anglia (£24,900) are two new contenders to feature in the annual top ten ranking by Sykes, with these regions going from 19th and 18th position to 7th and 8th, respectively, this year.