Holiday Lettings news - Holiday home market on the up

Holiday home market on the up

An upsurge in business for foreign property websites could be down to a slowdown in the UK housing market, it has been claimed.

Property website operator Rightmove, which recently bought a 67 per cent stake in Holiday Lettings, reported a jump of 60 per cent in operating profits for the six months to the end of June to £13.2 million, with a 68 per cent rise in revenue to £25.4 million, the Guardian reports.

It is thought the performance was due to a higher number of advertising clients paying higher fees, as well as the new acquisition.

This happened in March and Rightmove has already said that its revenue and property portfolio has surpassed Owners Direct, its closest rival, as a result.

This has conspired towards a general heating up in the market for holiday home letting despite a cooling off of the UK housing market.

This article was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

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