Are you looking to invest in a holiday let and reap those rental rewards? Then you might want to look beyond the Cornish coast and head north to Northumberland. That’s right, the land of Hadrian’s Wall and dramatic coastal landscapes is becoming the new hot spot for holiday let investors.

Northumberland’s Profit Rise

A new report from Sykes Holiday Cottages reveals that holiday let owners in Northumberland saw a 36% increase in their profits last year. That’s more than three times the 8% increase seen in Cornwall, the traditional holiday haven.

Northumberland Villages Leading the Way

The report identified four Northumberland villages where holiday let income boomed:

• Seahouses: Average annual income soared to £29,700, a 36% increase.
• Bamburgh: Saw a 25% jump, taking the average income to £30,100.
• Alnwick: Experienced significant growth, making it a lucrative location for holiday let investors.
• Alnmouth: Another village showing impressive rental growth, attracting savvy investors.

Why the Northumbrian Boom?

Andrew Fox, Chair of Visit Northumberland, explained the region’s growing popularity: “Northumberland provides a great opportunity for property owners, whether they are based on our stunning coastline, within our tranquil landscapes, or in the heart of our traditional towns and villages.”

He highlighted the region’s attractions, including easy access to a National Park and beaches, which are driving the increase in bookings and income for holiday let owners.

Nationwide Holiday Let Income

The report also reveals that the average annual income for a UK holiday let owner is £24,500. And a quarter of holiday let owners use their property to generate income during retirement, making it a popular way to supplement pensions.

Grasmere, Cumbria – the top-earning location, with holiday let owners making an average of £43,100 per year.
Ambleside, Cumbria – just north of Windermere, with an average income of £32,900 per year.

Government Crackdown on Holiday Lets

While the news for holiday let investors is positive, there’s a potential storm brewing on the horizon. The government has launched a crackdown on holiday let owners, aiming to ensure everyone is paying their fair share of taxes.

What does this mean for you?

This might mean increased scrutiny from HMRC, with more audits and investigations.

Key Takeaways for Potential Landlords

• Northumberland is a hot spot: Invest in a holiday let in this beautiful region and you could see a significant increase in your profits.
• Be aware of the tax landscape: The government is cracking down on holiday lets, so make sure you’re compliant with all tax regulations.
• Consider the long-term: Investing in a holiday let can be a great way to generate income and secure your future, especially for retirement.

So, are you ready to embrace the Northumbrian adventure? This could be your chance to become a successful holiday let investor in one of the UK’s most beautiful and lucrative regions.