The Tour de Yorkshire’s holiday let hotspots revealed

As the world’s top cyclists gear up for the Tour De Yorkshire which sets off this weekend, Together research has revealed the most attractive yields along the course for holiday let investors.

Related topics:  Property
Rozi Jones
1st May 2018
Haworth Tour de Yorkshire
"Millions of people are expected to join in the riot of colour and celebration which has come to epitomise the Tour de Yorkshire race"

Last year, the event boosted the regional economy by an estimated £64 million and attributed to a huge influx of 2.2 million visitors to the picturesque county.

The specialist lender used Land Registry house price statistics and estimated rental data from holiday let booking firm Airbnb to calculate rental yields in locations around the route for the 2018 tour, which starts this Thursday.

Holiday let landlords buying property near Swinton in South Yorkshire – part of the Barnsley to Ilkley stretch of the 2018 tour – could achieve rental yields of up to 13%, putting it top of the pile as a potential investment opportunity.

Meanwhile, yields in Masham, North Yorkshire, home to the famous Black Sheep Brewery and a checkpoint on the fourth stage, could be up to 7.9% for renting out a holiday flat.

Investors targeting property in Halifax, West Yorkshire, where the tour route was announced last September, can achieve yields of up to 7.6%, while those looking to Craven, which includes Skipton – known as “the gateway to the Dales” could achieve yields of 7.1%.

Holiday rental yields for a flat at Old Pool Bank, near Leeds – where the professional riders tackling this year’s tour face a daunting 1k climb at a 10% gradient – can reach 6%, the study found.

The figures compare favourably to the average rental yields for buy-to-let overall, which stand at 5.9% in Yorkshire, the same as the UK as a whole.

Daniel Owen-Parr, head of professional sector and auction at Together, said: “Millions of people are expected to join in the riot of colour and celebration which has come to epitomise the Tour de Yorkshire race, and these spectators will be looking for a place to stay.

“Many will be visiting Yorkshire for the first time to watch the race but may return again and again once they see Yorkshire’s natural beauty and history, its bustling market towns and scenic coastline - providing great opportunities all year round for savvy investors.

“We would recommend that holiday let investors should take advice from a tax expert and a specialist mortgage adviser before their purchase to make sure they have all the information available to them. However, as a lender, we can help customers access the finance they need.

“We use bespoke underwriting to look into all the circumstances of each individual case before we come to a landing decision, using our common sense approach to get the best outcome for our customers.”

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