Times Online: Let the good times roll

I spotted an interesting article from the Sunday Times by Cherry Maslen on letting your holiday home.

"Despite recent tax changes, buying a holiday rental in Britain can be a smart move, says Cherry Maslen"

A couple of highlights:

"The market has dropped substantially in some of the second-home areas that had the biggest bubbles. Prices in Devon are down by 24% from the 2007 peak and those in Cornwall by 21%, according to research by Savills estate agency, based on its own sales figures. Although the prime coastal spots will have held up better, almost nowhere is immune. The Cotswolds, for example, recorded an 18.6% fall; in Suffolk, Norfolk and Dorset, prices were down by 15%."

"... he [Ross Elder, Holiday Lettings] reports an increase in bookings for both country cottages and city flats, he says that both are trumped by the seaside, because people tend to stay longer and return the following year if they like it."

See the article in full.

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