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A recent article in the Times talked about how Brexit is affecting the tourism industry and the choices people are making about holidays.Holiday bookings are apparently down 6% year-on-year since the start of January (during the peak booking period).“Consumers are very nervous,” the industry's leading analyst told the Times.Holidaymakers are shelving their holiday plans or delaying bookings amid concern that the UK will crash out of the European Union without a deal.The demise of the airline FlyBMI has also caused the jitters that other airlines may collapse over Brexit fall out.However, mostly all of the above applies to overseas holidays, so I am wondering if this will mean that people will choose to holiday at home?Our own holiday let bookings are a little slower than this time last year, but are trickling in and I am not unduly worried at the time of writing.I've also seen some new holiday let mortgages coming to the market, and there seems an increasing appetite from lenders for this type of product, which I regard as a positive sign.I was wondering what other holiday let owners are experiencing in terms of bookings and if the Brexit blues are affecting your business?SEE ALSO - Guide to sourcing & setting up a holiday letUP NEXT - Holiday let - every portfolio should have oneDON'T MISS - My First Holiday Let JourneyNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
With the Brexit uncertainty I think we'll see more people holidaying in the UK this year, but I think we'll see people booking later too, lets hope we get the weather this summer as always if we get the weather there's know where better to holiday and if there's ever been a time to support our tourism economy this year has to be it.
Whilst still early, bookings appear to be slower this year for my holiday let in Portugal.
Suspect UK holidaymakers are sensibly waiting for more clarity around Brexit before booking.
The Astute Landlord
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We are seeing a very unusual pattern of many short stays (3-10 days) by mainland Europeans from many EU countries, in our several studios in Bristol. Most before 29th March. Grabbing the chance before passports or visas needed or Uk floats off into mid-Atlantic obscurity, or before the pound strengthens?
HOLIDAY LET MORTGAGES AND NOW SPECIFICALLY 'AIRBNB' MORTGAGES ARE AVAILABLE FROM LEEDS BUILDING SOCIETY VIA UPDATED POLICY CRITERIA.
Yesterday we were informed that another lender, Leeds BS, has formally agreed to add 'Airbnb' style lending to their proposition for properties that are not the 'usual' 6 month AST tenancy arrangement. Until now this had not been formalised.
The holiday / short term let rental strategy in growing in popularity and - via Property Tribes Financial Services - the correct mortgage arrangements can be secured.
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I believe that this is a temporary phenomenon. Soon everyone will dream to come and see how it became cool in the UK.
I've got 16 weeks booked in our holiday let this year so far, all off-peak or shoulder weeks. I think people are definitely hedging their bets regarding their main summer holiday.
Faint heart never won fair holiday let...
Hi Caroline,Thanks for sharing the view from your business. Just wanted to say I like your avatar with your dog! My new avatar is me with my cat. I think we might be starting a trend.
Ha, that was a rare picture, he's a working sheepdog and he doesn't normally do cuddles! (That said, he's flat on his back on the sofa with all four legs in the air at the moment...)
We're doing the renovations on holiday let number 2 at the moment, hoping to get it launched in June, but then I think we're going to take a pause ourselves and see what the market does post-Brexit (although there's a very pretty pair of seafront cottages I have my eye on that I may not be able to resist if they don't sell soon!)