Holidu’s Summer Price Index
UK holiday rentals are still hot property this summer. Now that restrictions are lifting, holiday makers are also looking further afield due to competitive prices.
- Essex, Lincolnshire and Croatia are the most affordable destinations in 2022
- Cornwall and Greece are the most expensive
- Staycations are considerably more expensive than travelling abroad this year
- Desire to travel grows: 64% of UK holiday rentals are already booked for summer, with popular regions like Norfolk 78% occupied
- Price hikes: Holiday rentals in the UK are 50% more expensive this year than in pre-pandemic 2019
- Prices within the UK vary considerably: expensive Cornwall (£249) to mid-priced Lake District (£169) to cheap Lincolnshire (£126)
- Trips abroad: Spain, France and Italy are the most searched for destinations
Despite incidence rates remaining high, the Brits’ desire to travel is growing. This is confirmed by Holidu, the search engine for holiday rentals, which has recorded significantly more searches and bookings since the beginning of the year: Already in the first month of 2022, we can see that 64% of British holiday rentals are booked up for summer.
“With booster vaccinations on the rise and restrictions beginning to ease, people are currently optimistic that a relaxed summer holiday will be possible this year,” says Holidu spokesperson Sarah Siddle. Since the pandemic began, holidays in holiday rentals have been particularly popular with travellers due to this being a low-contact accommodation choice. From analysing current data, Holidu has determined this year’s prices for holiday rentals and lettings in popular holiday destinations at home in the United Kingdom and abroad in Europe.
Staycations: UK prices vary significantly across regions
On average, a holiday rental in the United Kingdom costs £174 per night, which is more than a whopping 50% more expensive than in 2019, which was still a largely corona-free year. Prices within the UK vary considerably: the most expensive areas are in the southern coast of England and northern Wales: Cornwall (£249) is at the top, followed by Isle of Anglesey (£240) and the Jurassic Coast (£235).
It is somewhat cheaper in the Lake District and in Kent, where accommodation costs £169 pounds per night. A rental in Northumberland will cost you £154, and in Somerset, you can expect to pay £148. Essex and Lincolnshire offer some of the best prices for popular destinations, at £133 and £126 respectively. With an abundance of nature reserves and sandy beaches to choose from, these regions are especially recommended for families seeking a more affordable staycation.
“Tourist favourites like Cornwall and Devon were basically fully booked last year, and both are already booking up fast for the 2022 season too” says Sarah Siddle. The high demand is reflected in the high prices. “If you switch to less popular choices, you can save some money and potentially holiday in a less crowded destination” advises Siddle. The impact of the pandemic on travel has led many people to discover that there are many beautiful places right here at home. This trend of staycations will continue in 2022, but it is not the most cost-effective choice.
Staycations are considerably more expensive than travelling abroad:
The most expensive country in Europe for your summer holidays is Greece, which costs an average of £194 per night in summer, which is actually only £20 more expensive than the average cost of a rental in the UK, which is the second most expensive country in Europe at £174. Spain is also one of the higher-priced destinations (£156), where holiday accommodation is 31% more expensive on average than in 2019.
Interest in foreign travel on the rise:
Demand for trips abroad is increasing for the summer months. Although the UK leads the pack as a holiday destination (39% of all searches on Holidu are for British destinations), Spain is not far behind with 28% of all searches, and France and Italy are also catching up.
At £118, a holiday rental in Croatia is one of the cheaper options you can find this summer, followed by France (£123) and Portugal (£134). Looking at specific regions, Kos and the Costa del Sol are two great choices for Brits seeking some guaranteed sun with a low price tag. In Kos, 54% of rentals remain available and cost on average £133. The Costa del Sol is slightly more pricey at £167, and only less than half (47%) of rentals remain available.
Best time to book: Norfolk is already 78% booked up
Before COVID-19, summer holidays were typically booked at the beginning of the new year. The pandemic shifted this and led to much more spontaneous, last-minute planning of trips. From looking at January 2022 data, the holiday rental search engine Holidu is once again recording a significant increase in searches and bookings. “People dare to book in advance again. On the one hand, this is certainly due to the experiences of last year, when many holiday regions were simply booked out with the end of restrictions in July. On the other hand, more and more holiday rental companies are now offering free cancellation options, so you can remain flexible right up until a few weeks before your trip” says Siddle. Cancellation options were not common in the holiday rental market before the pandemic. Here, the market has evolved: More than 25% of all holiday rentals in the UK can now be cancelled free of charge after booking.
In Norfolk, Devon and Dorset, more than 70% of the accommodations have already been booked for the summer. Another popular location is The Cotswolds, which is currently only 53% booked, but at £218, is at the higher end of the pricing. The Peak District is 52% booked up and lies a bit cheaper at £165. Abroad, Menorca (76% booked) and Majorca (69%) are particularly in demand already. It is important to book well in advance if you’re interested in a villa in Menorca or a holiday rental in Majorca.
Methodology: The data for this study was collected from the Holidu database on the 28th of January 2022. The average price per night for a holiday rental for a week starting the 1st of August 2022 was determined, whereby the mean value was calculated above the median for particularly reliable data and statistical outliers were not taken into account. The Holidu website bundles and compares the offers of more than 15 million holiday rentals and records more than 30 million visitors every month.