Changing attitudes to second home ownership
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The number of people who own a second home has risen 33% in ten years according to data from the English Housing Survey.
In 2018/19 there were 3.75 million second properties – up from 2.68 million a decade earlier. However attitudes to second home ownership are changing as the survey shows in 2018/19, 35% of second property owners thought of it as a long-term investment. Five years prior, this was 48%.
And the number of people who owned second homes as holiday homes has decreased as the buy-to-let market has grown.
Sarah Coles, personal finance analyst, Hargreaves Lansdown:
“The second home dream is alive and well. Despite rising prices, more than a million have been snapped up in the past decade alone. But most people aren’t planning a strategic property portfolio to make their millions, many have either realised their dream of owning a holiday home, or stumbled into becoming accidental landlords.
“When asked why they had a second home, more people said they wanted it as a holiday...
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