HOLIDAY rental prices in Weymouth and Portland could treble in the run up to the Olympics.

Properties overlooking the Olympic Sailing site at Portland Harbour are in hot demand, with holiday letting agents and local property owners reporting an increase in people making enquires ahead of 2012.

Ewan Davy of Blue Chip Vacations, a company that specialises in letting out self-catering properties, said that properties in Weymouth and Portland were some of the ‘most popular in the South West.’ He said: “At the beginning of the year we had three properties in the area on our books and now we have over 20. We are looking to get more.

“There will be great demand up to the Olympics.

“Some Olympic teams have expressed interest in buying properties to use before the games.”

He added: “The Olympic impact will be such that the rent someone could potentially charge would be three times what they would normally get.”

Figures from Blue Chip Vacations suggest that a two-bedroom house could earn £12,000 on an annual lease with £2,000 agents’ fees.

But a property overlooking Portland Harbour could earn £14,000 net profit a year and this could rise to £40,000 over the Olympic period.

Weymouth letting agent Dream Cottages would not be drawn on rent prices for 2012 but said they would look at the impact of supply and demand ahead of the games.