General Article Changing attitudes to second home ownership

Topic Selected: Housing Book Volume: 396

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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