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Revealed: The Tour de Yorkshire’s leading holiday let hotspots

02 May 2018

As God’s own county prepares for the major sporting spectacle, new research has uncovered the best spots for holiday rentals along the route.

As the world’s top cyclists gear up to hurtle up hill, down dale when the Tour De Yorkshire sets off today, new research has revealed the most attractive yields along the course for holiday let investors.

Star riders including Mark Cavendish and reigning champion Serge Pauwels will add to the buzz of the annual event – which last year boosted the regional economy by an estimated £64 million, attributed to a huge influx of 2.2 million visitors to the picturesque county.

But it’s not only the cyclists and tourists who will be riding high this year. New research by buy-to-let mortgage lender Together, which specialises in finance for holiday lets, has revealed the best opportunities for investors to achieve healthy rental yields across the region.

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 on Thursday (May 3)

All calculations being based on the property being occupied for nine months of the year, although landlords may not be able to attract tenants throughout the full nine-month period.

“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,” said Daniel Owen-Parr, head of professional sector and auction at Together.

“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.”

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 per cent, putting it top of the pile as a potential investment opportunity.

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

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 per cent gradient – can reach 6 per cent, the study found.

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

Mr Owen-Parr said: “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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