Posts with tag: second homes

Cornwall is Top Holiday Home Spot

Published On: April 24, 2015 at 2:49 pm

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More people in England and Wales are buying second properties for holidays in Cornwall than anywhere else, research has found.

In the South West, the county of Cornwall has 300 miles of coastline and lots of unspoilt countryside for visitors to enjoy, leading people to purchase a holiday home there.

Of all properties in the county, 6.2% (10,169) are kept solely for leisure, Direct Line research has revealed.1

Cornwall is Top Holiday Home Spot

Cornwall is Top Holiday Home Spot

Around England and Wales, 165,000 properties are classed as holiday homes, Direct Line found from analysing Census figures.1

The most popular areas from the data, such as Cornwall, Wales and Norfolk, have experienced growth in second homeownership in the last 20 years. This has boosted tourism in these parts, but can be worrisome for local residents.

Those in favour of people having second homes believe that they bring money and business into areas, whereas critics believe that second properties force house prices higher, which can push locals out of the area. Opponents also note that homes can sit empty for large parts of the year.

An estate agent from Padstow, Cornwall, Peter Olivey, says that the market there is competitive: “Cornwall ticks a number of important boxes for second homeowners with its coastal location and abundance of activities. It’s a true holiday haven without the hassle or cost of going abroad.”1

Behind Cornwall is Gwynedd in Wales, where the Snowdonia National Park can be found. 4.7% of all properties here are holiday homes.1

Number three is North Norfolk, which includes part of the Heritage Coast. Seaside spots such as Cromer, Sheringham and Wells-next-the-Sea can also be found here. 2.9% of homes are for holiday use.1

Out of the top ten holiday hotspots, East Riding, Yorkshire is the place where it is most difficult to buy a property.

This news arrives after the Liberal Democrats revealed proposals to give power to local authorities that would allow them to double the Council Tax on second homes.

Head of Select Premier Insurance at Direct Line, Nick Brabham, says: “Holiday homes are very valuable to owners as they are often a place to relax and spend quality time with loved ones.

“This time is often limited, which means it is essential to keep the property and its contents in top condition all year round.”1 

1 http://www.thisismoney.co.uk/money/buytolet/article-3052013/Top-ten-holiday-home-hotspots-revealed-Cornwall-top.html

 

 

How Many of Us Own Second Homes?

Published On: April 22, 2015 at 10:19 am

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Categories: Landlord News

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In their Countryside Charter, the Liberal Democrats have proposed doubling Council Tax on second homes.

The party’s plan is to discourage people from buying second properties in popular areas, so that people who live permanently and work in these parts will be able to afford to live there.

But are second homes really a big issue?

How Many of Us Own Second Homes?

How Many of Us Own Second Homes?

The 2011 Census found that 1,570,228 people in England and Wales have a second address, used for 30 days or more every year, in these countries outside of the local authority of their main home.1

A further 47,733 people have a second address in Scotland or Northern Ireland, and 820,814 have second addresses outside of the UK.1

However, these properties are not all second homes in the sense that the Lib Dems refer to:

  • Just 11% of these people, 165,095, use these second addresses as holiday homes.
  • 15% have them as student accommodation or for work.
  • Over three-quarters have them for other reasons.1

The numbers also relate to the amount of people with second addresses, not the quantity of second properties. More than one member of a household could have given a second address.

The English Housing Survey, although not for the whole of the UK, found that in 2012-13, 671,000 households held a second home that remains their residence. Some respondents must have had a third home, as 752,000 properties are kept solely as a second residence.1

2,118,000 properties that are owned as a second home are rented out to someone else.1

Over half of households with second homes have a property outside of the UK, with France being the most popular place and Spain the second.1

The Department for Communities and Local Government has revealed that there are around 28m homes in the UK, indicating that not many of these are second properties.1

However, these residences are not distributed evenly around the country, as the Census found that 6% of holiday homes are in Cornwall, 5% in Gwynedd, and 3% in North Norfolk, South Lakeland, East Lindsey, Pembrokeshire and the East Riding of Yorkshire.1

It is not known how much doubling Council Tax on second homes would put off holiday home buyers.

1 http://www.bbc.co.uk/news/election-2015-32393222