Popular tourist destinations in England have seen a jump in active holiday lets across the year, reports Octane Capital.

It states that between Q1 2021 and Q1 2022, the number of holiday lets in the Lake District rose from 5,693 to 7,591 – 33.3%.

And in the Peak District, holiday lets increased by 25.2% and, in the Cotswolds, 25%.

Meanwhile, Cornwall, Devon, and Brighton saw rises of 24.1%, 21.1%, and 13.1%, respectively.

There were drops in activity in three major cities, however – in London, where this metric fell 17.1% over the same time frame, in Newcastle, which fell 11.6%, and in Manchester, which posted a drop in activity of 1.7%.

Overall, England is home to 100,551 active holiday let mortgages currently, which 1.25% more than seen in Q1 2021.

Octane Capital chief executive Jonathan Samuels says: “Because holiday lets are now the first choice for a huge swathe of the population, more and more people are thinking about ways to make money off the sector. Some people are simply opening up a spare room in their home, but others are buying new properties with the sole purpose of putting them on the holiday let market.

“While it’s an attractive idea, it’s one that requires careful consideration. The old idiom of location, location, location has never been more appropriate. If you can’t buy a property in a high demand short-term rental location, you’re going to really struggle to make any sort of profitable income in this sector.

“It’s about finding locations that offer the perfect balance between affordable purchase price and strong, reliable rental income. This is often easier said than done.”