Nearly one in 10 (9%) are seriously considering buying a holiday let in the next five years, according to research from Nottingham Building Society.

And another 21% say they’d potentially purchase one in that timeframe, said the mutual. It found that the staycation boom has inspired millions to consider buying a UK holiday let property.

Holiday lets have become hugely popular in recent years, with over half (52%) of those surveyed who already own one having bought them in the past two years.

The majority (84%) of those surveyed who already own holiday lets said they made more income from them in 2021 than 2020, with nearly a quarter (23%) estimating income was 30% or more higher.

However, the survey revealed that would-be UK holiday let owners are not just in it for the money – 67% say they and their family would go on holiday there every year, while around a third (29%) would consider trips to the property.

One in 10 (10%) say buying a holiday let to permanently live in one day is already in their plans for retirement.

Christie Cook, head of mortgage product at The Nottingham, said: “Buying holiday lets is an aspiration for many – with some planning to go on holiday there, a significant number planning to live there permanently in the future and others seeing them purely as an investment.

“The recent staycation boom has driven interest in UK holiday lets, particularly as the pandemic reintroduced people to the beauty of holidays in the UK.”