Tuesday, July 21, 2020

Rise in beach hut rental prices

There are roughly 20,000 beach huts in the UK for those looking for a shedlike element to their holidays. Recent research by Howsy and GetAgent indicates that whether you're renting or buying on the south coast of England, the prices continue on their inexorable rise.

Howsy's figures suggest that the average total for renting one is £1,525 a month, 2.5% more than 2019. Unsurprisingly, Mudeford in Dorset leads the pack where prices are just below £4,000 a month (if it's any consolation this is only a 1.2% increase on last year). Elsewhere, Whitstable huts cost a monthly average £1,232 (up 4.1%) and £948 per month in Sandbanks in Dorset (up 3%).

It's just over £830 (up 5.6%) in Southwold, Suffolk, and around £750 in Bournemouth (£752, or 4.4%), the two areas which have witnessed the largest surges.

As always, there are some ludicrous prices. Beach huts are still going for well north of £300,000 at Mudeford, though not all are so dear - pictured top is Noahs Ark, Beach Hut 75 at North Beach in Southwold, on with Durrants for a mere £67,500. On average, a hut costs nearly £37,000, rising to £90,000 in Dorset but only £10,500 in West Sussex.

“It would seem as though beach huts offer the solution to a buy-to-let sector that has been battered by a string of government changes to tax relief and stamp duty," said Calum Brannan, CEO of Howsy. "While the cost of acquiring a beach hut is generally far lower than the regular market, the astronomical rents secured on them will be resulting in some very favourable yields indeed."
Tuesday posts are sponsored by Garden Spaces, suppliers of contemporary garden buildings, offices, gyms and studios, many of which do not require planning

No comments:

Post a Comment