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The Brexit Bounce: Why now’s a great time to buy a holiday home in the UK

August 15, 2016 OTA News No Comments Print Print Email Email

As British Airlines report record rises in people searching for holiday flights to the UK post Brexit, experts at specialist holiday property website, holidaycottages.co.uk are seeing a Summer surge in buying holiday homes in the UK.

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Travel experts at holidaycottages.co.uk are reporting increasing interest in investors looking to buy holiday properties in the UK, following Britain’s decision to leave the UK.

In addition to a 37% increase in people viewing their website looking for UK holidays in the month following Brexit, theamount of users looking at holiday homes for sale page has increased by 17% since the EU Referendum.

The travel company experts say a combination of the impact of the EU referendum decision and UK interest rates have been cut to 0.25%, is encouraging consumers to invest in the UK holiday market.

Due to the latest change in the interest rates, buying a second home or holiday home will potentially become cheaper to finance and new owners are seemingly looking to take advantage of potential lower borrowing rates.

British tourism also seems to being boosted by the falling pound: British Airways have reported an immediate 30% rise in US customers searching for a UK holiday post Brexit.

James Morris, Managing Director of holidaycottages.co.uk, who have published a special post Brexit report for potential investors in UK holiday homes, said:

“Our feeling is that holiday home owners in the UK will see certain advantages following the European referendum result whether they currently own a holiday home or are considering investing in one. We believe that holiday home owners will reap the rewards of a boom in the UK tourism industry and we are on hand to provide specialist advice.”

Great properties currently for sale on holidaycottages.co.uk are:

  • A thatched cottage in Bideford Devon – £399,950
  • A modern 2 bed apartment in Ilfracombe, Devon, £229,000
  • A bungalow in Perranporth, West Cornwall, £125,000

Andrew Mackenzie-Shapland, Independent Financial Advisor and one of the top 250 financial advisors in the UK, who worked with holidaycottages.co.uk on the special report, said:

“We are being asked by many to look at re-finance options in the wake of Brexit and uncertainty over the next few months. Markets do not like uncertainty and we expect that this will continue.”

It has also been recently reported that mortgage applications from overseas investors have gone up by 50 percent since the referendum due to the weakened value of the pound.

Morris comments: “Obviously the full impact of the European Union referendum result is to be seen over the next few months and years, but we have seen some significant changes in the immediate aftermath of the vote. Last-minute holidaymakers are seemingly concerned with external factors surrounding holidays abroad and feel as though they will receive better value for money by holidaying in the UK.

In the future, we also expect to see an increase in overseas tourists looking to take advantage of a weaker pound and will monitor ways to continue marketing the UK as a great destination for visitors from longer-haul locations.”

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