NI holiday homes have increased by huge 171%

New data released by the Belfast firm, compared 2019, a normal year before the pandemic came into effect, against the same time period in 2022.

The data based on over 25,000 holiday home insurance policies across the UK, also revealed that County Antrim (33%) is currently leading the NI market in terms of holiday homes, followed closely by Donegal (24%), Londonderry (20%), County Down (18%) and Fermanagh (5%).

Interestingly, only 21% of those surveyed had holiday homes abroad, 79% are classified as in the UK/Ireland with 72% of that segment specifically in Northern Ireland.

Managing director of CompareNI.com, Ian Wilson, said: “New data compared 2019 against 2022, revealing a 171% increase in Northern Ireland holiday homes. However demand for holiday properties in Northern Ireland understandably took a dive by 29% during the early phase of the pandemic, 2019 to 2020, but 2020 to 2021 saw the number soar as people embraced the staycation.

“We also witnessed a 142% increase in holiday homes to let across Northern Ireland, which has continued to increase, by 7%, across the same time period in 2022. In fact, 27% of all holiday homes surveyed in Northern Ireland are now available to let. Our data supports the trend that Airbnb-style letting is increasing in many parts of the country as people rent their holiday homes to help generate funds.”

He added: “It’s sensible to ensure these properties are protected with a holiday home insurance policy. The most popular holiday home type was found to be a detached bungalow, so to help ensure safety and also keep insurance costs down, all windows should have locks, BSI approved if possible – given that all access to the property is on ground level, as it can increase the risk of burglary.”