A new report has revealed that Pembrokeshire is one of the top ten places to invest in a holiday let in the UK. 

The Holiday Letting Outlook Report, from Sykes Holiday Cottages, analysed the company’s letting data alongside house prices and other factors to determine the state of the UK holiday letting market. 

When looking at long-term investment opportunities for holiday let owners, the research found that Pembrokeshire was the tenth best place in the UK to own such a property. 

The county has an average house price of £254,675, with year-on-year house price growth of seven per cent. 

The report revealed that the average revenue of a four-bedroom holiday let in Pembrokeshire is £28,567. 

Pembrokeshire was one of only two Welsh areas to make the top ten, with Anglesey coming in as the second top investment area in the UK. 

The most popular property types among new let owners in 2022 were holiday cabins, which saw an upswing of 155 per cent. 

As part of the research, the company also polled 500 holiday let owners across the UK, with 50 per cent of those polled reporting that they have seen an increase in demand since the pandemic. 

As well as this, 63 per cent said that they are aiming to grow their portfolio over the next five years. 

The average holiday let owner is judged to spend approximately £7,400 each year on expenses such as utility bills, property maintenance and tax. 

Graham Donoghue, CEO of Sykes Holiday Cottages, commented: “We’re still seeing a significant number of new holiday home owners join us despite the rising cost of living, and positively for owners, bookings and income levels are continuing to grow. 

“Our analysis shows demand for holiday lets held strong over the past year - demonstrating the resilience of the market in what are undeniably challenging times.

“Staycations often offer a more affordable alternative for holidaymakers across the UK and, combined with the fact that our country has such incredible places to discover, it appears demand for UK holiday lets is going nowhere.

“Our new investment analysis has identified the locations to watch when it comes to investing, and I would encourage anyone considering making the leap into holiday letting to get in touch to find out how else they can make the most of their investment.”