Where to buy a holiday home: UK staycation hotspots see the biggest house price growth this summer

One of the many immediate consequences of the coronavirus pandemic and lockdown is a renewed interest among city dwellers in the idea of moving to the country.

Unsurprisingly then, some of the nation’s top-performing house price regions contain some of the most picturesque spots in the UK.

And for anyone whose foreign travel plans have been thrown into disarray this week, the latest report from Halifax offers food for thought.

The lender found some of the most popular staycation destinations are in areas with the biggest house price growth this summer compared to last.

The average annual price increase in these summer holiday hotspots was £13,500. With the stamp duty holiday applying to purchases of second homes, a summer bolt hole may be even more appealing with the tax saving factored in, although such buyers will still have to pay the three per cent surcharge.

Second home owners could also make additional income by renting out their summer pad. However, with the ability to work from home now a mid- to long-term option for many, some people may well decamp for the whole season, wifi permitting.

The biggest house price rise was in Gwynedd in Wales, home to the spectacular Snowdonia National Park and Mount Snowdon, the highest peak in England & Wales, as well as miles of stunning coastline. Prices rose by almost £20,000 in the region to £201,000.

Also in Wales, Mid Glamorgan with its beaches and historic Caerphilly saw the second biggest price rise, of £18,400 to £166,000.

Popular with summer sailors and beach bums, the Isle of Wight saw the third biggest increase, with the average home rising £17,300 in value to £256,000.

Scottish beauty spots also saw significant price rises, with homes in Renfrewshire, west of Glasgow in the Scottish Lowlands, and Stirlingshire, home to Loch Lomond, up £16,600 and £15,400 respectively.

Russell Galley, managing director, Halifax, said: “The summer holidays are upon us and many Brits would usually be anticipating a summer break abroad. Recent events may mean plans have changed but, with the easing of lockdown restrictions, the opportunity to travel is an option once more.

“Our research has found that staying local and exploring home-grown tourist attractions could make more financial sense, whilst providing the beauty, excitement and cultural enrichment many of us look for when travelling … to Europe or beyond.”