Rise in UK Second Homes Prediction
Report predicts that second homes will increasingly be bought in the UK rather than abroad
25th August 2005
Research published today predicts that the number of people buying second homes in the UK, rather than abroad, is set to rise by nearly 25% over the next decade, translating into 77,000 new homes classed as second homes or holiday homes.
The study, commissioned by insurance company Direct Line, suggested that climate change was one reason behind the increasing popularity of buying in the UK - where once a 'place in the sun' meant looking abroad, as Europe's temperatures rise people are looking closer to home, especially in coastal areas.
Another increasingly popular choice is to have a family home in a rural area, with a small city apartment used for work purposes.
A further growth area is predicted to be student property, with parents combining property investment with helping out their children by buying property for them to live in while at university.
Read More: Money Guardian : Forget Spain ... we're buying in Birmingham
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Products from Direct Line : Mortgages, Travel Insurance, Life Insurance, Home Insurance, Loans, Motor Insurance, Pet Insurance, 'Driving For Less', 'Living For Less' |
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More on Second Homes : Inquiry Urges Second Homes Protection for Countryside (News, 22/05/2006), Higher Tax for Second Homes? (News, 18/04/2006), Second Home Tax Break Scrapped (News, 07/12/2005), Criticism for Second Homes Tax Break (News, 25/08/2005), 230,000 Second Homes (News, 05/05/2005) |
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