Despite a very uncertain year for many, surprisingly the UK property market maintained its resilience.
According to statistics derived from our team, the rental market is predicted to grow by 3% on average.
However as always, location is a prime factor that can influence such demand. Areas in prime locations across the UK are predicted to even hit up to 5-10% growth in 2022.
Many Landlords are taking this opportunity to purchase buy-to-let or even build to rent properties as a long-term investment plan.
With the ease of travel coming into play after many restrictions opposed throughout 2020, vaccine rollouts fuelled the Airbnb market to continue to stand strong as many preferred booking private accommodation during these times as it aligned with desires for safety, privacy and a richer offering of amenities.
As we witnessed at Smarthost, many Hosts made the decision to purchase homes with greater garden spaces and let out to guests who seeked spaces to balance work and personal life at home.
It is evident that there has been a bounce back to pre-Covid times and 2022 will be no short of greater growth and continued strength for the market. Rental yields are expected to increase, providing Hosts with a fantastic window to venture short-let properties, which were in high demand over the past 2 years.
London in particular has kept its momentum, with a strong focus on constant regeneration and investment projects, a large number of foreign investors is going to be behind the continued growth throughout 2022.
Throughout the last 12 months, we saw a large interest in those opting to stay in Holiday rental homes across the UK, doubling to over 22% in comparison to 2020. The adapting holiday rental sector presents opportunities to guests that they would not receive staying in hotels, which is one of the many reasons why experts predict that the short-term rental market will be one of the fastest growing markets.
With our close dedication to maintaining high occupancy levels and keeping the best interest of our Homeowners and Guests at heart, our service offerings are fully flexible and professionally managed to meet the needs of all our clients.
Looking to make the switch to short-let this year? Get in touch with our team today to receive an estimate.